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Current reports

Apator Powogaz SA – subsidiary and ING Bank Śląski SA have concluded the contract of long term bank loan

Nr 16/2015
Date and time: 2015/05/06, 00:00
Category: Concluded contracts

The Management Board of Apator SA ("Issuer") announces that its subsidiary – Apator Powogaz SA with headquarters in Poznań ("Company ") and ING Bank Śląski SA with headquarters in Katowice (“Bank”) concluded on 5th May 2015 the contract of long term bank loan. The contract concerns the granting of bank loan in amount of PLN 64 m. The bank loan is designed to financing the acquisition of Miitors ApS to the amount of PLN 24 m. Other cash i.e. max. PLN 40 m is allowed to be spent on financing of potential investment intended and it will be used if necessary. The Issuer will announce about the occurrence of circumstances justifying the use of the financial means in separate current report.

The bank loan has been granted for seven years i.e. till 30th November 2022 and it will be repaid in eighty four monthly instalments since 31.12.2015.

The interest on the bank loan is being established according to variable interest rate equal WIBOR rate for single month deposits increased by margin of the bank that value depends on net debit /EBIDTA ratio and commission. Calculation of interest and its payment will be made every month.

The following hedging was established for the above bank loan:

- contractual mortgage to the amount of PLN 76,8 m on the property of the Company located in Poznań at 23/25 Janicki Street and the assignment of rights from insurance policy (about the establishment of the mortgage the Issuer will announce in the separate current report),

- power of attorney to have at its disposal the financial means collected on all current and future open accounts kept by the Bank.The Company has made the statement to subject to enforcement to the amount of PLN 96 m

The long-term bank loan contract does not include the conditions that are different to commonly used in bank loan contracts. It also does not include provisions regarding liquidated damages and other significant reservations concerning the condition or term.

The long term bank loan contract has been considered as the important one due to the exceeding 10% of equities of the Issuer.

There are no relations between the Issuer and persons in management or in supervision or between the Issuer and the Bank.

Legal basis:

  (i) §5 para 1 point 3 of the Regulation of Minister of Finance dated 19th February 2009 regarding current   and regular information being transferred by the issuers of securities and conditions to be considered as   equivalent information  required by law of the country not being the member of the EU  (Journal of Laws no.33 item 259   with later amendments).

CONTACT ON INVESTOR RELATIONS

Contact person for institutional investors and analysts

cc group - Katarzyna Mucha

Mobile +48 697 613 712

katarzyna.mucha@ccgroup.pl

Director for Management and Promotion of Apator Group

Jolanta Dombrowska

Mobile +48 56 61 91 228

ri@apator.com

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