Current reports
Current report no. 15/2014
Fulfillment of conditions precedent in connection with the credit agreement
Legal basis:
Art. 56 section 1 point 2 of the Public Offering Act – Current and periodic information
Contents of the report:
In connection with current report no 8/2014 as of 13 March 2014 informing about concluding credit agreement in amount of 1 200 000 000,00 zł (Agreement) between Zespół Elektrowni Pątnów-Adamów-Konin S.A. („Company”) and consortium of banks in composition of: mBank S.A., Bank Gospodarstwa Krajowego, Bank Millennium S.A., Bank Polska Kasa Opieki S.A. oraz Powszechna Kasa Oszczędności Bank Polski S.A. („Consortium”), under which drawdown of credit is conditioned on fulfillment of the conditions precedent, hereby the Company informs that on 19 May 2014 the Company obtained letter from facility agent mBank S.A., acting in the name of the Consortium, confirming fulfillment of all conditions precedent specified in Agreement.
Conditions precedent specified in the Agreement, are no different than the conditions commonly used in similar transactions. conditions especially include the following:
- submission by the Company of the Company’s body resolutions as well as declarations required by the Agreement;
- performance by the Company of activities necessary to secure the payment of the receivables deriving from the Agreement;
- provision by the Company of technical supervision reports regarding, among others, the Project’s budget and schedule.
Fulfillment of conditions precedent by the Company allows to submit application of credit drawdown.
Legal basis: § 5 section 1 point 4 of the Finance Minister’s Regulation of 19 February 2009 on the Current and Periodic Information Transmitted by Securities Issuers and the Conditions for Recognizing the Information Required by the Regulations of a Non-Member State as Equivalent
Signatures of persons representing the company:
Katarzyna Muszkat – President of the Management Board
Anna Striżyk – Vice President of the Management Board