Conclusion of annex to credit agreement with ING Bank Śląski S.A.
Art. 56 (1) (2) of the Act on Public Offering – Current and Periodic Information
The Management Board of COMPLEX S.A. hereby informs that on June 7, 2013, the annex to Multi-Product Agreement dated May 10, 2012, was signed – the Issuer informed about this Agreement in current report No. 21/2012 dated May 11, 2012, and No. 12/2013 dated May 10, 2013. The annex to the agreement was concluded by the Issuer and twelve companies from COMPLEX Capital Group with ING Bank Śląski S.A. with its registered office in Katowice, the Corporate Banking Centre in Łódź, ul. Kopcińskiego 73/75 (hereinafter: the Bank).
The signed annex provided for the extension of the term of the agreement by June 9, 2014. The subject matter of the Agreement is to grant the companies from COMPLEX Capital Group the revolving credit limit of total amount of PLN 24,000,000.00.
The signed annex partially replaced the limit of the credit involvement with factoring limit. Pursuant to the Agreement, the total financing (the Multi-Product Agreement and factoring) shall not exceed PLN 21,000,000.00. The change of part of the credit limit into the factoring limit is connected with the decision about insuring the receivable debts of some of the companies from the Capital Group within the agreement concerning the cooperation in the scope of non-recourse factoring. The purpose of insuring the receivable debts was to decrease the risk of sales and improve the balance sheet structure. The assignment of those receivable debts constituted thus far the security for the Multi-Product Agreement. Furthermore, the Parties to the agreement stipulated that the Issuer or its subsidiaries sell the fixed assets being the security for the Multi-Product Agreement encompassing the real property and/or machines of value equal to PLN 3,000,000.00, and the proceeds from sales shall be allocated to the repayment of part of the credit limit.
The remaining provisions of the agreement have not been significantly amended.
The criterion of considering the agreement as a significant agreement is the agreement value exceeding 10% of equity of COMPLEX S.A.