Current Report No.: 40/2010
Date:
08.31.2010
Conclusion of a credit agreement with Fortis Bank Polska S.A.
The Management Board of Energomontaż-Południe S.A. (the "Issuer", the "Company") hereby announces that on 31 August 2010 the Company concluded a multipurpose credit line agreement of up to PLN 30 million (the "Credit Line") with Fortis Bank Polska S.A. (the "Bank"). Under the Credit Line the Company can use guarantees and credit on its current account up to 29 August 2011, and the line may be renewed annually by 30 August 2020.
The interest on the credit is based on the 1M WIBOR money market rate increased by the Bank's margin.Repayment is secured with a capped mortgage of up to PLN 30 million on land property located in Opole, an assignment of commercial receivables and the Issuer's statement on submission to enforcement pursuant to the Banking Law for up to PLN 51 million. The remaining terms of the agreement are typical for this type of agreement.The agreement is regarded as significant due to its value, which exceeds 10 per cent of the Issuer's equity.
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
Andrzej Hołda - President of the Management Board
Alina Sowa - Vice President of the Management Board
Legal grounds: Article 56 par. 1 pt. 2 of the Act on Offerings - current and periodic information
Attachment:
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