Establishment of collateral on behalf of Bank Handlowy SA on 22 November 2018 by Apator Metrix SA
On October 11, 2017, a subsidiary - Apator Metrix SA ("Company") made a decision to accelerate payments to National Industry Group Ltd. ("NIG") based in Guernsey for the acquisition of the remaining 50% stake in the company of George Wilson Industries Ltd. ("GWI") based in the UK. At the same time, GWI decided to repay a loan in the amount of GBP 1.5 million granted by BI Group PLC (a subsidiary of NIG).
Information about the decision to that effect. The decision was given to the public the current report No 36/2017.
Source of financing for a loan by GWI was a loan incurred by the company, and secured a loan guarantee granted by Apator Metrix SA.
In order to establish a guarantee referred to above, the company has entered into on 11 October 2017 year with Bank Handlowy SA (the "Bank") the framework agreement for a line of revolving credit on granting bank guarantees (the "agreement") to the maximum amount of £ 4 million.
In accordance with the agreement, the company was not required to establish security for the benefit of the Bank, subject to that obligation arises after 12 months the term of the contract.
In connection with the expiry of the period referred to above, the Board of Apator SA ("issuer") announces that on November 22, 2018, it has signed a statement of submission to enforcement mode 777 Code of Civil Procedure for commercial bank (the "Bank") up to a maximum amount of 4.8 million (I.e., 23.2 million, according to the average exchange rate NBP of 21 November 2018).
At the same time, the issuer informs that, regardless of a declaration of submission to enforcement, referred to above, the company has established a security in favour of the Bank in the form of a bill of Exchange in blank, along with agreement to the Bill of Exchange in blank, secured by a lien registration for the highest total security-18.2 million laid down on stocks of the company.
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