Article 17 sect.1 of the MAR - confidential information.
Subject: Change in the loan agreement
The Management Board of VRG SA with its registered office in Kraków ( the "Company") informs that on July 2, 2020 documents were signed to amend the multi-purpose limit credit agreement of March 9, 2015, as from changes concluded between the Bank and the Company (hereinafter: "Multi-Purpose Loan Agreement"), about which the Company informed in current reports No. 8/2015, 57/2016 and 37/2017.
The amendments to the Multi-Purpose Loan Agreement include an extension for a period of 24 months, i.e. until July 1, 2022, total credit limits to the amount of PLN 92,000 thousand , consisting of:
1) Overdraft limit up to the sum of PLN 37,000 thousand under a separate contract;
2) Multi-purpose Credit Limit up to the amount of PLN 55,000 thousand, which includes the limit for bank guarantees up to the sum of PLN 25,000 thousand and the limit for letters of credit up to the sum of PLN 30,000 thousand.
As part of additional security to the above-mentioned contracts, in relation to existing ones, the following were introduced:
- increasing the value of the registered pledge on inventory to the sum of PLN 160,000 thousand,
- Bank Gospodarstwa Krajowego liquidity guarantee for an overdraft,
- an obligation to provide security in the form of a civil law surety for a subsidiary of the Company, i.e. W.KRUK S.A. for multi-purpose credit.