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 eobuwie.pl Logistics Sp. z o.o. with its registered office in Zielona Góra ("eobuwie.pl 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.