The Management Board of NEXTBIKE POLSKA S.A. with its registered office in Warsaw (hereinafter: "the borrower") informs that today it has signed with Alior Bank S.A. with a registered office in Warsaw, as a lender ("Bank"), a revolving loan agreement in a credit account ("Loan"). The revolving loan was granted in the amount of PLN 20,000,000.00 to finance current business operations.
The loan period has been set at 12 months and the final repayment date is July 9, 2019. The interest rate on the loan was determined based on WIBOR 3M plus the Bank's margin.
The Loan collateral is: (i) power of attorney to the current account of the Borrower maintained in the Bank and other bank accounts of the Borrower, which exist and which will be opened at the Bank, (ii) a confirmed transfer of receivables from the agreement dated 18 June 2018 concluded between NB Tricity Sp. z o.o. with the Association "Gdańsk-Gdynia Metropolitan Area", (iii) a financial pledge with a compensation clause, (iv) a declaration of submission to enforcement up to PLN 40,000,000.00 until 9 July 2022.
Due to the granted Loan, the Borrower obliged, among others, to: (i) present quarterly information on realized / invoiced sales under the agreement securing the Credit, (ii) not paying or transferring in any other form to shareholders or other eligible persons, any monetary amounts exceeding 0.01% of profit net of the dividend earned in a given year by the Borrower, as dividends or other payments related to the share in the share capital, and also does not provide them with any other property benefits resulting from the shares held by them without the prior written consent of the Bank during the term of the agreement, (iii) not to incur or not allow the Borrower to incur additional financial obligations during the term of the contract, without the prior written consent of the Bank, in particular under a loan, a loan, a guarantee, a surety, a promissory note and other balance sheet and off-balance sheet liabilities.
The other terms of performance of the contract do not differ from those commonly used for this type of contracts.
Source: company website, investor relations, current and periodic reports.