CR 34/2014 Annex to the master agreement
Annex to the master agreement
Current report no.: 34/2014
Date: 05.12.2014
The Management Board of LPP SA hereby informs that on December 5, 2014, an Annex to the Loan Agreement concluded on November 5, 2007, between LPP SA and PKO BP SA was signed.
In accordance with the Annex to the above mentioned agreement, the Issuer was granted the right to use the additional PLN 26 million (with the current debt in the amount of PLN 174,6 million) to finance and refinance the cost of the investment consisting in the expansion of the Distribution Centre.
The increase of loan was a result of the decision to implement the next stage of investment in office space and showrooms.
The schedule of loan repayments has also changed. The final repayment of the entire debt is due by the end of 2022.
The agreement was concluded on a commercial basis.
The agreement value exceeds 10% of equity capital of LPP SA.