Establishing a mortgage by the Issuer’s subsidiary
Legal basis: Art. 56.1.2 of the Act on Public Offering – current and periodic information
With reference to Current Report No. 45/2011 of 15 July 2011, the Management Board of LC Corp S.A. (the Issuer) hereby reports that it was informed today by its subsidiary, Warszawa Przyokopowa Sp. z o.o., that on 27 September 2011 the District Court for Warszawa Mokotów, X Department for Land and Mortgage Registers, made an entry in land and mortgage register No. WA4M/00139030/7 concerning a capped mortgage up to the amount of EUR 75,957,124.43 for Raiffeisen Bank Polska S.A.
Land and mortgage register No. WA4M/00139030/7 is kept for the real property located in Warsaw, at ul. Grzybowska 85A, with a total area of 12822.00 m2, held in perpetual usufruct by Warszawa Przyokopowa Sp. z o.o., the Issuer's subsidiary undertaking.
The above mortgage represents security for repayment of the credit principal and interest (including interest for default) and for payment of all charges, costs and commission fees related to the granted credits, i.e. an investment credit of up to EUR 49 million, intended for a partial financing of the construction of an office complex with retail facilities, located in Warsaw, at ul. Grzybowska 85A, and a revolving credit facility of up to PLN 6.6 million, intended for financing VAT on expenses incurred in connection with the ongoing project, contracted by Warszawa Przyokopowa Sp. z o.o. (in which the Issuer holds 81.66% of shares), as a Borrower, from an entity not related to the Issuer (and unrelated to the Issuer's management or supervisory staff) – Raiffeisen Bank Polska S.A., as a Lender. The Issuer notified of concluding the above-mentioned credit agreements and their securities in Current Report No. 45/2011 of 15 July 2011.
The basis for publishing this report is the fact that the value of the mortgage exceeds an equivalent of EUR 1,000,000, converted according to the average exchange rate published by the National Bank of Poland on the day on which a disclosure obligation arose.
Legal basis: Art. 5.1.1 of the Directive of the Minister of Finance 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 (Journal of Laws – Dz. U. No. 33, Item 259).