Mortgage established by a subsidiary
Legal basis: Art. 56.1.2 of the Act on Public Offering – current and periodic information
With reference to Current Report No. 36/2014 of 29 April 2014, the Management Board of LC Corp S.A. (the Issuer) informs that today it received information that pursuant to the decision of the District Court of Trzebnica, 4th Land Register Division, of 12 June 2014, a contractual mortgage for a total amount of up to PLN 75,000,000.00 was entered in the land and mortgage registers Nos. WR1W/00027810/6, WR1W/00051888/0, WR1W/00051889/7, WR1W/00051890/7, WR1W/00051891/4, WR1W/00051892/1 and WR1W/00051893/8 for Getin Noble Bank S.A.
The land and mortgage registers, referred to above, are kept for the real estate located in Malin, Wisznia Mała Commune, Trzebnica District owned by LC Corp Invest II sp. z o.o. in which the Issuer holds directly 100% of the shares and votes at the general meeting of shareholders.
The mortgage was established to secure the loan agreement concluded between the Issuer and Getin Noble Bank S.A., of which the Issuer informed in Current Report No. 36/2014 of 29 April 2014. The mortgage constitutes the security for liabilities to Getin Noble Bank S.A. arising from the agreement mentioned above.
The Issuer and Getin Noble Bank S.A. are Dr Leszek Czarnecki’s subsidiaries directly and indirectly (by LC Corp BV). Dr. Leszek Czarnecki, Chairman of the Supervisory Board is also the Chairman of the Supervisory Board of Getin Noble Bank S.A. Remigiusz Baliński, a member of the Supervisory Board is also a member of the Supervisory Board of Getin Noble Bank S.A..
The book value of the assets on which the mortgage was established, as reported in the LC Corp Invest II sp. z o.o. accounting records, is PLN 89,533,538.00.
To meet the Issuer’s criterion of assets significance, the value of acquired assets has to exceed 10% of the Issuer’s equity.
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 recognizing as equivalent the information required by the laws of a non-member state (Journal of Laws – Dz. U. No. 33, item 259).