Current Report No. 32/2014
Belongs to:
- Reports
Topic: Conclusion of material agreement between ENERGA Group and Pekao S.A.
Legal grounds: Art. 56 section 1 item 2 of Act on Offerings – current and periodic information
The Management Board of ENERGA SA with its seat in Gdańsk („Company”, „Issuer”) announces that on 25 June 2014 the Company concluded an amending agreement („Amending Agreement”) to the loan agreement with Polska Kasa Opieki S.A. bank with its seat in Warsaw („Pekao S.A.”) dated 13 October 2011 („Agreement”), under which the amount of financing had been increased and the final loan payment date extended.
The Agreement was described in the Condensed Interim Consolidated Financial Statement as at and for the nine-month-period ended 30 September 2013, constituting a financial part of the Company Issue Prospectus, approved by the Polish Financial Supervision Commission on 15 November 2013.
The Amending Agreement increased the revolving loan limit as the subject of the Agreement from PLN 200 million to PLN 500 million and extended the final loan payment date from 12 October 2016 to 29 May 2020. The remaining terms and conditions of the Amending Agreement do not depart from market standards applied in agreements of this category.
The Amending Agreement is of the highest value from among all agreements signed by the Issuer and its subsidiaries (i.e. „ENERGA Group”) with Pekao S.A. within last 12 months and due to it the combined estimated turnover of the ENERGA Group with Pekao SA grew to the net amount of approximately PLN 886 million as at the date of this report.
The agreements between the ENERGA Group and Pekao S.A. within last 12 months meet the criterion of material agreement i.e. their total value exceeds the equivalent of 10% of the Issuer’s equity.
Legal grounds:
§ 5 section 1 item 3 of the Minister of Finance Decree dated 19 February 2009 on current and periodic information disclosed by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state.
Significant blocks of shares / change in the ownership