Arteria S.A. obtained new overdraft credits in Deutsche Bank PBC S.A.
The Management Board of Arteria S.A. notified about obtaining two credits for an aggregate value of PLN 7,300,000. The details of the concluded agreements are as follows:
Overdraft credit agreement
1. Date of concluding credit agreement: 23 April 2009 (the Management Board announced this fact on 27 April 2009)
2. Designation of parties:
a) Deutsche Bank PBC SA with the registered seat in Warszawa, al. Armii Ludowej 26;
b) Arteria S.A. with the registered seat in Warszawa, ul. Jana Rosoła 10.
3. Designation of the subject of the agreement: Granting a credit in the amount of PLN 2,200,000.00 (say: two million two hundred thousand) for financing current economic activity of the Company and refinancing overdraft credits granted to the Borrower by Bank Polska Kasa Opieki SA in the amount of PLN 1,200,000.00 and Bank Millennium SA in the amount of PLN 1,000,000.00.
4. Designation of essential terms of the agreement: Among the most essential terms of the credit agreement, the following terms shall be listed:
a) instituting appropriate securities: blank bill of exchange submitted by Arteria S.A. and backed by Arteria Retail SA with bill of exchange declaration,
b) statement of execution,
c) power of attorney allowing the Bank to dispose of the Current Account of the Borrower,
d) assignment of claims to the Bank, arising from a number of contracts for services.
5. Other terms of the agreement: the signed credit agreement does not contain other terms, contradictory to terms usually used in this type of agreements, including stipulated penalties.
6. The criterion, on which acknowledgement of the agreement as being a high-value agreement is based: the amount of credit granted to Arteria S.A. Company is higher than 10% of the Company's equity.
Investment credit agreement
1. Date of concluding credit agreement: 23 April 2009 (the Management Board announced this fact on 27 April 2009)
2. Designation of parties:
a) Deutsche Bank PBC SA with the registered seat in Warszawa, al. Armii Ludowej 26;
b) Arteria S.A. with the registered seat in Warszawa, ul. Jana Rosoła 10.
3. Designation of the subject of the agreement: Granting a credit in the amount of PLN 5,100,000.00 (say: five million one hundred thousand) for financing the investment project based on paying the remaining part of the price for 365 shares of POLYMUS Sp. z o.o. company, which were purchased by Arteria S.A. from Nova Group (Cyprus) Limited with the registered seat in Nicosia. Total amount of capital expenditures constituting total purchase price of 365 shares (pursuant to the agreement as of 14 July 2008 as amended) amounts to PLN 8,544,000.00.
4. Designation of essential terms of the agreement, regarding credit security:
a) institution of blank bill of exchange submitted by Arteria S.A. and backed by Polymus Sp. z o.o. with bill of exchange declaration,
b) accession to a debt of Arteria Retail SA company and institution of blank bill of exchange with bill of exchange declaration,
c) statement of execution of the Borrower and the Guarantee,
d) power of attorney allowing the Bank to dispose of the Current Account of the Borrower,
e) court registered pledge on the shares of Polymus Sp z .o.o.
f) assignment of claims to the Bank, arising from a number of contracts for services.
5. Other conditions of the agreement: the signed credit agreement does not contain other terms, contradictory to terms usually used in this type of agreements, including stipulated penalties.
6. The criterion, on which acknowledgement of the agreement as being a high-value agreement is based: the amount of credit granted to Arteria S.A. Company is higher than 10% of the Company's equity.