Forward FX Transactions Concluded by Subsidiary
Legal basis: 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) hereby reports that today i.e. 5 July 2012 a subsidiary company of the Issuer i.e. Warszawa Przyokopowa Sp. z o.o. with its registered office in Wrocław (Warszawa Przyokopowa), in which the Issuer holds 81.66 % of shares, received from an entity unrelated to the Issuer i.e. Raiffeisen Bank Polska S.A. of Warsaw (the Bank), a confirmation of conclusion of forward FX transactions effected under the Framework Agreement, as announced by the Issuer in Current Report No. 41/2012 of 1 June 2012.
The value of all forward foreign exchange transactions (EUR) relating to execution of the credit agreement concluded by Warszawa Przyokopowa via the Bank, until the publication of this current report, reached PLN 132,550,505.20, and exceeded 10% of the Issuer’s equity thus meeting the criteria of an agreement of significant value.
The total par value of the above-mentioned transactions within the notional (base) amount reached EUR 31,056,232.86, with maturity dates falling on between 6 August 2012 and 5 December 2013.
The FX transaction of the highest value is a contract entered into on 5 July 2012, within the notional amount of EUR 2,456,653.95 with the forward rate of 4.2941 EUR/PLN and maturity date of 5 August 2013.
The transactions were concluded at arm’s length, with their conditions similar to those commonly applied in such financial operations.
The above-mentioned transactions are considered an agreement of significant value pursuant to Art. 2. section 1 item 51a in connection with Art. 2.2 of the Directive due to the fact that the total value of those agreements concluded within a period shorter than 12 months exceeds 10% of the Issuer’s equity.
Legal basis: Art. 5.1.3 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).
