The Management Board of ELKOP S.A. based in Płock in reference to current reports No. 88/2018, and No. 91/2018 regarding the conclusion by the Issuer with ATLANTIS SE in Płock (KRS 0000728463) of a loan agreement of 14/12/2018 and conclusion on 19/12/2018 of the agreement to transfer ownership of the property as collateral, herewith informs that despite the repayment of the loan, the borrower, ATLANTIS SE, did not repay the loan amount and interest due to the Issuer under the Loan Agreement of December 14, 2012 until December 29, 2018 r.
Due to the failure to repay the loan by the borrower in accordance with the provisions of the Agreement on transfer of title as collateral of 19/12/2018, the Issuer informs that the Issuer's obligation to return property ownership to the borrower has expired. On 31/12/2018, the Issuer filed a statement to ATLANTIS SE in Płock regarding the retention of the ownership title to real estate covered by the Land Transfer Agreement dated 19/12/2018, i.e. real estate, and an office building with an aggregate floor space of 10,319.55 sq m, located on these properties. in Płock for the price of PLN 37,000,000.00
Therefore, the Issuer informs that in connection with the acquisition of the property described above, all claims of the Issuer under the Loan Agreement of 14/12/2018 to ATLANTIS SE in Płock were satisfied in whole.
As a result of the declaration submitted by the Issuer on December 31, 2018, the Issuer's claims under the Loan Agreement of December 14, 2018 were satisfied and the Issuer became the owner of the property described above.
The Issuer also informs that between the Issuer and the borrower there are capital and personal links.
The President of the Issuer's Management Board is a Member of the Borrower's Supervisory Board, in addition, four members of the Issuer's Supervisory Board simultaneously perform a function in the Borrower's Supervisory Board.
The Issuer informs that a significant shareholder of the Issuer, Patro Invest OÜ based in Estonia, holding shares of the Issuer representing 36.10% of the share capital and the total number of votes at the Issuer's General Meeting is also a significant shareholder of the Borrower with 60.14% share in the share capital and the total number of votes at the General MeetingAssembly of the Borrower.
Source: company website, investor relations, current and periodic reports.