Annex to the significant agreement
Current report no.: 2/2014
The Management Board of LPP SA hereby reports that on 13 January 2013, annexes to the overdraft facility agreement (multi-purpose line) executed on 13 December 2011 and to the agreement on revolving line for letters of credit executed on 13 December 2011 were signed by LPP S.A. and Bank Handlowy w Warszawie S.A.
Under the annex to the overdraft facility agreement (multi-purpose line), the total limit for the use of individual products up to the amount of PLN 150 million was determined; the amount of up to PLN 150 million may be used in the form of loans, up to PLN 150 million – in the form of letters of credit, and up to PLN 50 million – in the form of guarantees. The repayment date is 12 January 2016.
Under the annex to the agreement on revolving line for letters of credit, the limit of USD 25.5 million was determined with the current period of use until 12 January 2015. The limit may be used to order the opening of letters of credit.
The agreements were executed on the arm’s length principle, with their total value amounting to PLN 227 million. The agreements are deemed significant since their total value exceeds 10% of the equity of LPP SA.