Conclusion of a Significant Agreement
Legal basis: Art. 56.1.2 of the Act on Public Offering – current and periodic information
The Management Board of LC Corp S.A. (the "Issuer") reports that on 25 May 2015, the Issuer's subsidiary undertakings, i.e. LC Corp Invest I sp. z o.o., whose the Issuer directly and indirectly (by its subsidiary undertaking LC Corp Invest XVI sp. z o.o.) is the sole partner (the "Lender") and LC Corp Invest XV sp. z o.o. Projekt 2 sp. k, whose the Issuer directly and indirectly (by its subsidiary undertakings: LC Corp Invest XV sp. z o.o. and Kraków Zielony Złocień Sp. z o.o.) is the sole partner (the "Borrower") concluded a cash loan agreement.
Pursuant to Art. 2.2. of the Regulation of the Minister of Finance (Journal of Laws No. 33, item 259) of 19 February 2009, on current and periodic information published by issuers of securities and the conditions for recognising as equivalent the information required under the provisions of law of a non-member state (the "Regulation"), the Issuer informs that for the last 12 months its subsidiary undertakings, i.e. the Lender and the Borrower, have concluded four loan agreements whose total value amounts to PLN 103,000,000.00 and thus exceeds 10% of the Issuer's equity. The above-mentioned value includes the Borrower's liability in favour of the Lender in the amount of PLN 10,000,000.00 arising from a loan agreement of 10 June 2014, the Borrower's liability in favour of the Lender arising from two loan agreements of 10 April 2015 in the amount of PLN 41,000,000.00 and in the amount of PLN 9,500,000.00 and the Borrower's liability in favour of the Lender arising from the agreement described below.
Pursuant to Art. 9.8 of the Regulation, the Issuer reports that the agreement of the highest value is the agreement concluded on 25 May 2015, under which the Lender granted a loan to the Borrower in the amount of PLN 42,500,000.00 (the "Agreement"). The loan was advanced for an indefinite period of time, whereupon the Borrower undertook to return to the Lender the whole or part of the loan amount with interest within one month of receiving the Lender's written notice. The interest rate was established based on WIBOR 1M increased by margin. The loan was granted to enable the Borrower to run its ongoing business associated with the financing the purchase of real estate at ul. Sowińskiego and Człuchowska in Warsaw, described in the previous Current Report No 38/2015. Other terms and conditions of the Agreement are similar to standard practices in agreements of this type.
Legal basis: 2.1.44, in connection with 2.2 of the Regulation of the Minister of Finance (Journal of Laws, No. 33, Item 259) dated 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognising as equivalent the information required by the laws of a non-member state.