TXM S.A. with its registered office in Andrychów informs that all the Conditions Suspending the entry into force of the Amendment Contracts have been fulfilled and the Amending Agreements entered into force on 22 August 2018.
TXM SA Management Board with its registered office in Andrychów ("Company", "TXM"), in reference to current report of the Company No. 31/2018 dated 17 August 2018 regarding partial fulfillment of conditions suspending the entry into force of agreements amending loan agreements concluded by TXM S.A. with Powszechna Kasa Oszczędności Bank Polski S.A. and ING Bank Śląski SA, informs about the fulfillment of the remaining (all) conditions precedent ("Conditions Suspension") the entry into force of the amending agreements ("Amending Agreements") credit agreement of November 24, 2015 ("PKO BP Credit Agreement") concluded between TXM and Powszechna Kasa Oszczędności Bank Polski SA ("PKO BP") and a loan agreement of 3 July 2017 ("ING Credit Agreement") concluded between TXM and ING Bank Śląski S.A. ("ING"), that is:
1. The Company has provided the legal opinion of TXM's legal advisor regarding the status, authorization and legal authority of TXM with regard to the conclusion of Change Agreements and security documents in the form and content acceptable by PKO BP and ING;
2. The recapitalization of TXM by the investor / investors referred to in the Company's Current Report No. 27/2018 of August 14, 2018 in amount of at least PLN 25,000,000 (in words: twenty-five million zlotys), in private mode issue of shares and private issue of registered bonds by TXM, in the scope:
• concerning the issue of shares, by: (i) submitting a copy of the application to the National Court Register regarding the registration of the share capital increase; and (ii) submitting bank account statements confirming the recording of funds obtained from recapitalization in TXM bank accounts maintained in PKO BP and ING (in proportion to the credit limits granted under the Loan Agreement of PKO BP and the ING Credit Agreement);
• regarding the issue of bonds by: (i) submitting copies of bond documents issued; and (ii) submitting bank account statements confirming the recording of funds obtained from recapitalization in TXM bank accounts maintained in PKO BP and ING (in proportion to the credit limits granted under the Loan AgreementPKO BP and the ING Credit Agreement).
Source: company website, investor relations, current and periodic reports.