Announcement.

ZAKŁADY MIĘSNE HENRYK KANIA SA (13/2018) Conclusion of significant agreements regarding the financing of part of the Company's operations.

The Management Board of Zakłady Mięsne Henryk Kania Spółka Akcyjna based in Pszczyna (the "Company") informs in reference to Current Report No. 11/2018 of 22/03/2018 that on March 27, 2018, after carrying out the full decision-making process, Alior Bank SA The final decision on granting the Company the financing made and on the same day the Company concluded a number of agreements with Alior Bank Spółka Akcyjna, as a result of which the financing structure of part of the Company's operations changed, including the bank financing the part of this activity. The most important safeguards for concluded contracts are: contractual mortgage on the property owned by the company located in Pszczyna and Goczałkowice - Zdrój b) registered pledge on certain fixed assets of the Company, c) registered pledge on a part of inventory held by the Company, d) registered pledge on certain trademarks belonging to the Company, e) assignment of future receivables due to the Company from some of its counterparties Below, the Management Board presents other most important terms of the concluded contracts: CREDIT AGREEMENT IN THE CURRENT ACCOUNT Loan amount: PLN 10,000,000.00 Objectives of the loan: a) total repayment of the loan granted to the Company by Bank Handlowy in Warsaw SA under a credit agreement of October 11, 2017 b) after repaying the loan referred to in point a) - financing of the company's day-to-day operations Loan period: 12 months. Providing the loan depends on the fulfillment by the Company of a number of conditions specified in the contract, including in particular related to the establishment of appropriate safeguards. The loan is interest-bearing at a variable interest rate. The remaining terms of the contract, including the terms of loan availability, fees and commissions, do not differ from those commonly used for this type of contract. RENEWED CREDIT AGREEMENT Loan amount: PLN 30,000,000.00 Credit targets : a) full repayment of the loan granted to the Company by Bank Handlowy w Warszawie SA under a credit agreement of October 11, 2017 b) after repaying the loan referred to in item a) - financing of the company's current operations Loan period: 12 months. Final dayrepayment: 26 March 2019. Making the loan available depends on the Company meeting a number of conditions set out in the contract, including in particular related to the establishment of appropriate securities. Interest will be repaid on a monthly basis. The loan will be repaid in the amount not lower than PLN 15,000,000.00 per month, with each loan repayment allowing its repayment to be made by the repaid amount. The loan is interest-bearing at a variable interest rate. The remaining terms of the contract, including the terms of loan availability, fees and commissions, do not differ from those commonly used for this type of contract. A NON-INVASIVE CREDIT AGREEMENT Loan amount: PLN 29,000,000.00 Credit Objectives : a) full repayment of the loan granted to the Company by Bank Handlowy w Warszawie SA under a credit agreement of October 11, 2017 b) after repaying the loan referred to in point a) - financing of the company's current operations Loan period: 60 months. Final day repayment: March 27, 2023 Making the loan available depends on the Company meeting a number of conditions specified in the contract, including in particular related to the establishment of appropriate securities. The loan will be made available in two tranches. The first tranche of PLN 22,000,000.00 will be used to refinance the loan granted to the Company by Bank Handlowy w Warszawie S.A. under a credit agreement of October 11, 2017. The second tranche in the amount of PLN 7,000,000.00 will be made available upon fulfillment of additional conditions by the Company. Capital installments and interest will be repaid in monthly periods The loan bears interest at a variable interest rate. The remaining terms of the agreement, including the terms of loan disclosure, fees and commissions, do not differ from those commonly used for this type of contract. A NON-INVASIVE CREDIT AGREEMENT Loan amount: PLN 10,000,000.00 Aims of the loan : a) full repayment of the loan granted to the Company by Bank Handlowy w Warszawie SA under a credit agreement of October 11, 2017 b) after repayment of the loan referred to in point a) - financing of the company's day-to-day operations Loan term: 36 months Final repayment day : March 27, 2021year Making the loan available depends on the fulfillment by the Company of a number of conditions specified in the contract, including in particular related to the establishment of appropriate securities. Capital installments and interest will be repaid on a monthly basis The loan bears interest at a variable interest rate. The remaining terms of the agreement, including the terms of loan availability, fees and commissions, do not differ from those commonly used for this type of contract. CONTRACT FOR COOPERATION INSURANCE IN RETIREMENT (REVERSING FACTORING) As part of the agreement, Alior Bank S.A. undertook, under the terms and conditions set out in it, to acquire debts which the Company will be obligor to take over the risk of the Company's insolvency. Renewable limit: PLN 18 000 000.00 Last day of the utilization period of the granted limit: March 26, 2019 (the period in which the Company may apply for the purchase of receivables) Other terms of the agreement, including financing conditions , fees and commissions do not differ from those commonly used for this type of contracts.

Source: company website, investor relations, current and periodic reports.

ALL COMPANY ANNOUNCMENTS
Company information
Company name:Zakłady Mięsne Henryk Kania SA
ISIN:PLIZNS000022
NIP:744-000-33-25
Adress: ul. Korczaka 5 43-200 Pszczyna
Phone:+48 32 2103247
website:www.zmkania.pl

Copyright © 2017 PolandStockExchange
This website uses cookies (Regulations / Cookie Policy).