Conclusion of a credit limit agreement by a subsidiary of Poznańska Korporacja Budowlana Pekabex S.A.

Conclusion of a credit limit agreement by a subsidiary of Poznańska Korporacja Budowlana Pekabex S.A.

The Management Board of Poznańska Korporacja Budowlana Pekabex S.A. (“the Issuer”) informs that the Issuer’s subsidiary – Pekabex Bet S.A. (“the Company”) has concluded a credit limit agreement today with DNB Bank Polska S.A. with its seat in Warsaw (“DNB”), the detailed terms and conditions of which are set out below:

Subject of the contract: granting the Company by DNB a credit limit

Contract value/amount of financing granted: PLN 20,000,000.00

Contract conclusion purpose: financing the current business activities of the Company

Financing period end date: 24 months from the conclusion of the agreement
Due amount repayment hedging:

1. a PLG-FGP guarantee granted by Bank Gospodarstwa Krajowego for the amount of PLN 16,000,000.00 for the period of 27 months from the date of signing the agreement,
2. a promissory note with a promissory note declaration issued by the Company in connection with the coverage of the PLG-FGP guarantee,
3. quiet global assignment of receivables of the Company,
4. a Company’s declaration of voluntarily submission to enforcement made in a notarial deed pursuant to Article 777 (1) (5) of the Code of the Civil Procedure up to the amount of PLN 30,000,000.00, in relation to which DNB will be able to apply for an enforceability clause to be incorporated within 3 years from the final repayment of the limit.

Other terms and conditions of the contract deviating from those typical for this contract type: coverage of the credit limit by Bank Gospodarstwa Krajowego under the portfolio guarantee line of the PLG-FGP Liquidity Guarantee Fund

The reason for deeming the Information material: The Information has been deemed material due to the fact that the contract value exceeds 5% of the value of the Issuer’s consolidated equity according to the last published annual consolidated financial statements.

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