CR 48/2016 Annex to material agreement
Annex to material agreement
Current Report No.: 48/2016
Date: 30.09.2016; 15:08
The Management Board of LPP SA announces that today LPP SA and Raiffeisen Bank Polska SA signed a technical annex to the debt limit (multi-purpose) agreement dated 12 July 2002.
Under the annex, the total limit of PLN 280 million was established for the use of individual products (unchanged compared to the previous agreement), and the period for the use of individual products was extended:
- overdraft facility – by 31 October 2016
- revolving loan – by 28 October 2016
- limit under which the guarantees to LPP SA and its subsidiaries will be released – by 31 October 2017
- limit under which letters of credit will be opened – by 31 October 2017
The remaining terms and conditions of the agreement remain unchanged.
Within the next month, the Company intends to sign another annex to the loan agreement dated 12 July 2002 with Raiffeisen Bank Poland SA extending the use of the loan for another year.
The agreement was entered into on arm’s length basis.
The issuer provides the above information to the public because in its opinion the value of the agreement meets the criterion of being deemed a material agreement.