Current report No. 57/2023

Concluding an annex to loan agreement by the Issuer's subsidiary

(Current Report No. 57/2023)

21.11.2023 /Issuer/

Legal basis:
Article 17(1) MAR - confidential information


The Management Board of CCC S.A. (hereinafter: the Issuer) announces that on November 21, 2023, the Issuer's subsidiary Modivo S.A. (hereinafter: the Company) concluded an annex with Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (hereinafter: PKO BP S.A.) based in Warsaw, ul. Puławska 15, 02-515 Warsaw, to the credit agreement in the form of a multi-purpose credit limit (hereinafter: MPC) dated June 2, 2021, about which the Issuer announced in current reports CR No. 32/2021 dated June 2, 2021, CR No. 49/2021 dated August 2, 2021 and CR No. 35/2022 dated November 7, 2022.

By means of this annex:

1) The period for which the MPC limit was granted was extended to November 21, 2025 (previous term: November 21, 2023);

2) changes have been made to the collaterals of the MPC limit, the collaterals are:

i/ a guarantee granted by Bank Gospodarstwa Krajowego, seated in Warsaw ("BGK"), under the Crisis Guarantee Fund Portfolio Guarantee Line Agreement No. 4/PLG-FGK/2022 entered into on July 01, 2022, as amended (the "Portfolio Agreement") in the amount representing 40.00% (in words: forty 00/100) of the LKW amount, i.e. in the amount of PLN 72,000,000.00 (in words: seventy two million 00/100),

ii/ a registered pledge with the highest amount of security in the amount of PLN 270,000,000.00 (in words: two hundred and seventy million 00/100), on a sorter with automation, owned by Logistics Sp. z o.o. with its registered office in Zielona Góra (" Logistics Sp. z o.o."), located in a warehouse located in Zielona Gora, Nowy Kisielin - Naukowa 15 Street;

iii/ a registered pledge with the highest amount of collateral in the amount of PLN 270,000,000.00 (in words: two hundred and seventy million 00/100) on inventory owned by the Borrower, with a minimum value of PLN 270,000,000.00 (in words: two hundred and seventy million 00/100).

The extended credit limit will be used to finance the current operations of Modivo S.A. in the form of: overdraft sub-limit in PLN (up to the amount of 180,000,000.00 PLN, in words: one hundred and eighty million 00/100) and sub-limit for guarantees and letters of credit in PLN and in EUR and USD currencies (up to the amount of 50,000,000.00 PLN, in words: fifty million 00/100).

Other provisions, the above-mentioned agreements, have not changed and do not deviate from market conditions for this type of agreement.
The Issuer's Management Board decided to publish the above-mentioned information due to the significant value of the agreement.

See also

Let's stay in touch

Sign up to receive email updates with the latest CCC Group news

Subscribe to the newsletter