Significant Value Agreement Concluded with Subsidiary
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. 24 August 2012, the Issuer as the Lender entered into a cash loan agreement with its subsidiary LC Corp Invest I Sp. z o.o. (the Borrower), in which the Issuer holds 20 % of shares and votes at GM.
The Issuer hereby reports that since 1 August 2012 (the publication date of report No. 65/2012 informing about transactions between the Issuer and LC Corp Invest I Sp. z o.o.), the Issuer has concluded two cash loan agreements with LC Corp Invest I Sp. z o.o., totalling PLN 80,000,000 (eighty million PLN), thereby exceeding 10% of the Issuer’s equity.
On 10 August 2012 the Issuer concluded with LC Corp Invest I Sp. z o.o. a cash loan agreement of the highest value, i.e. PLN 65,000,000 (sixty five million PLN). 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.
The loan agreements were considered an agreement of significant value (pursuant to Art. 2.1.51a in connection with Art. 2.2 of the Directive) and in connection with Art. 2.2 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, as the total value of the loans advanced within a period of less than 12 months exceeds 10 % of the Issuer’s equity.
Legal basis: Art. 2.1.51a in connection with Art. 2.2 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).
