Signing of an annex to a significant agreement
(Current report no. 36/2016)
30.06.2016 /The Issuer/
Legal basis:
Art. 56 sec. 1 point 2 of the Act on Public Offering - current and periodic information
The Management Board of CCC S.A. (The Issuer) hereby informs that on 30 June 2016, the subsidiary of the Issuer, CCC.eu Sp. z o.o. based in Polkowice, received a signed annex as of 28 June 2016 to the agreement for a multi-purpose credit limit as of 15 October 2014, with the Bank Polska Kasa Opieki Spółka Akcyjna Pekao S.A. (hereiafter: Bank) with its registered office in Warsaw at ul. Grzybowska 53/57, of which the Company informed in the current report CR No. 51/2014 as of 16 October 2014.
This annex changed the credit limit up to the total amount of PLN 355,000,000.00 (say: three hundred fifty-five million zlotys, 00/100); the previous value: PLN 255,000,000.00, under which the Bank granted the Company a limit in the form of overdraft up to a total amount not exceeding PLN 350,000,000.00 and in the form of bank guarantees or letters of credit for a total amount not exceeding PLN 5,000,000.00 .
With the change of the amount, the value of the security of agreement changed in the form of a contractual mortgage up to the amount of PLN 355,000,000.00 by means of the ownership right entitled to an affiliated entity (CCC Factory Sp. z o.o.) within the property land located in Polkowice, for which the District Court in Lubin, V Department of Land and Mortgage Registry keeps a Land and Mortgage Register No. KW LE1U/00049122/0, and the value of securities issued by the Issuer and entities of the Capital Group: CCC Shoes & Bags Sp. z o.o. and CCC Factory Sp. z o.o. together with a blank promissory note with own issuance and a promissory note declaration up to 120% of the limit. In addition, there were established: a registered pledge on the inventory of finished goods belonging to the Issuer with a minimal value of PLN 50,000,000.00, whereas within the sell-off period of the value minimal PLN 30,000,000.00 towards the highest security amount of 150% of the amount of the Limit together with the assignment of rights of the insurance policy within the insurance of finished goods covered by the registered pledge and a registered pledge on the fixed asset belonging to the Issuer – a sorter located in Polkowice, at ul. Strefowa 6, 59-101 Polkowice, up to the highest security amount of 150% of the amount of the Limit with assignment of rights from the insurance policy.
Other conditions are similar to those commonly used for this type of agreement. The criterion for the recognition agreements as significant is the amount of equity.
The total exposure of Bank Polska Kasa Opieki S.A. towards the Group CCC shall amount to PLN 360,000,000.00.
Podstawa prawna: § 5 section 1 point 3 of the Decree of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by the laws of non-member states.
Signatures:
1 / Piotr Nowjalis – Vice-President
2 / Mariusz Gnych – Vice-President