Management Board of ATLANTIS SE based in Płock in reference to current report No. 55/2018 and 58/2018 regarding the conclusion by the Issuer as a borrower of a loan agreement with the company ELKOP S.A. in Płock (KRS 0000176582) as the lender, and conclusion of the Agreement of transfer of ownership as security from 19/12/2018, informs that despite the expiry of the deadline set for 29.12.2018. the deadline, did not make timely repayment of the debt resulting from the Loan Agreement of 14/12/2018.
The Issuer informs that the failure to repay the loan taken on time is not due to the financial situation or the lack of liquidity of the Issuer. The Management Board of ATLANTIS SE explains that the financial condition of the Company is good, which is confirmed by periodic reports published by the Issuer and the Issuer maintains the necessary level of liquidity. The Issuer explains at the same time that the company granted security to the claims of the lender under the loan agreement of 14/12/2019. by transferring ownership to the lender owned by land and an office building located on these properties, with a total area of 10,319.55 sq m, located in Płock, which the Issuer reported in Current Report No. 58/2018 of 19/12/2018.
The Issuer informs that it has decided to allocate the assets of the Company, such as real estate securing the repayment of obligations under the loan agreement of 14/12/2019. to satisfy all claims of the lender, exhausting them in full.
The Issuer also informs that on 31.12.2018. received a statement by ELKOP S.A. regarding the takeover of ownership of real property transferred to ELKOP S.A. to secure the claims of this company under the Loan Agreement of 14.12.2018.
Under the title of transfer of title from 19.12.2918. ELKOP S.A. it was entitled to take over the ownership of the Company's real estate should the Issuer fail to meet its obligations under the contracted loans at the agreed dates. As a result of S.A. submitted by ELKOP in Płock on December 31, 2018 the statement on the acquisition of ownership of the property has been met to claim ELKOP S.A. under the Loan Agreement of December 14, 2018 and the definitive transfer of ownership of the property to ELKOP S.A.
The Issuer also informs that there are capital ties between the Issuer and the lenderand personal. The chairman of the lender's board acts as a member of the Issuer's Supervisory Board, in addition, four members of the Issuer's Supervisory Board simultaneously perform the function in the lender's Supervisory Board.
The Issuer informs that a significant shareholder of the Issuer, Patro Invest OÜ, Estonia, holding shares of the Issuer representing 60.14% of the share capital and the total number of votes at the Issuer's General Meeting is also a significant shareholder of the lender with 36.10% share in the capital company's share and the total number of votes at the Borrower's General Meeting.
Source: company website, investor relations, current and periodic reports.