Management Board of CI Games S.A. with its registered office in Warsaw (the "Company") informs that on June 29, 2020 the Company concluded Annex 2 to the revolving loan agreement concluded with mBank S.A. ("Annex"), of which the Company informed in current report No. 1/2018 of 9 January 2018 ("Loan Agreement"). The revolving loan agreement is concluded for a limited period until March 31, 2021.
The subject of the Annex is to grant a revolving loan up to the amount of PLN 15,000,000.00 (in words: fifteen million zlotys) to finance the production of new computer game titles issued by the Company, including Sniper Ghost Warrior Contracts 2 and Lords of the Fallen 2.
The loan interest rate is based on the 1-month WIBOR rate, increased by the Bank's margin in the amount of 2.7 pp.
The collateral for the repayment of the Bank's receivables is:
1. a blank promissory note issued by the Borrower, accompanied by the Borrower's promissory note declaration of 09.01.2018;
2. global assignment of receivables to the Bank under the global assignment agreement No. 43/021/17 of 09/01/2018. as amended;
3. registered pledge on 15,000,000 (in words: fifteen million) pieces of the Borrower's shares, owned by Marek Lech Tymiński, on the basis of pledge agreement No. 43/006/17 of 09/01/2018;
4. financial pledge on the Customer's accounts maintained at the Bank under the financial pledge agreement of June 26, 2020;
5. declaration of submission to enforcement pursuant to art. 777 § 1 item 5 of the Code of Civil Procedure, in the form of a notarial deed, up to PLN 22,500,000.00 (in words: twenty two million five hundred thousand zlotys and 00/100)
During the term of the Credit Agreement, Mr. Marek Tymiński is obliged to hold a minimum of 52,663,570 shares in the Company's share capital, entitling to 32.52% of the number of votes in the Company's shareholding.
Other provisions of the loan agreement do not differ from the terms commonly used for this type of agreement.
Current value of the Company's liabilities towards mBank S.A. under the Credit Agreement, as at 29 June 2020, it amounts to PLN 12,500,000.00.
Legal basis: art. 17 clause 1 in relation from art. 7 item 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR).
Source: company website, investor relations, current and periodic reports.