Current Report No. 1/2011
Conclusion of a significant agreement with PBP S.A. – signing of loan agreements.
Article 56.1.2 of the Act on Public Offering – current and periodic information
The Management Board of ERGIS-EUROFILMS S.A. with registered office in Warsaw hereby announces that on 20 January 2011 the Company signed loan agreements with Polski Bank Przedsiębiorczości S.A. with registered office in Warsaw:
1. A fixed-term loan agreement in the amount of EUR 4,100,000 for the purpose of refinancing a part of the loan granted by BRE Bank within the framework of the syndicated loan agreement with Bank Handlowy w Warszawie S.A. and BRE Bank S.A. under the Agreement of 27 October 2007. Repayment of the fixed-term loan will be performed in 20 equal quarterly instalments starting from 31 January 2012. The agreement provides for conditions precedent, including but not limited to submitting applications to the pledge register and applications for entering the mortgages into land and mortgage registers as well as applications for deletion of mortgage entries with respect to these real properties for the benefit of Bank Handlowy and BRE Bank. Loan disbursement will be performed in one tranche, after the conditions precedent have been satisfied.
2. An agreement on current account loan facility in the amount of PLN 10,000,000 for the purpose of financing of working capital. Until 31 December 2010, the Company had a credit line in BRE Bank in the same amount; the agreement has not been extended for another year. A credit line under the agreement on current account loan facility will be made available following the satisfaction of the conditions precedent, including but not limited to submitting applications to the pledge register and submitting applications for deletion of pledges established for the benefit of BRE Bank. The Agreement is effective until 19 January 2012.
The value of the above loan agreements exceeds 10% of the shareholders' equity of ERGIS-EUROFILMS S.A. The Agreement was concluded under market conditions; there are no relations between the managing and supervising persons of the Issuer and the Crediting Bank.
Article 5.1.3 of the Regulation of the Minister of Finance on the Stock Exchange
In order to avoid any doubts and to present the Issuer’s full position on the matter, ERGIS S.A. hereby informs and explains that all and any documents, reports, financial information, data presentation and other materials are posted in Polish as well as in English versions, and the Issuer, always acting in good faith, assures that it makes every effort to have the ordered and published translations absolutely coherent with the original (Polish) version of the documents.
However, should there be any discrepancy or incoherence between the Polish version of the document and its English translation, ERGIS S.A. explains that the leading and the correct wording and version is the text prepared and disclosed in Polish.