Annex to the master agreement
Current report no.: 20/2015
The Management Board of LPP SA hereby informs that on 27 May 2015 LPP SA concluded with Bank Handlowy w Warszawie SA annexes to the agreements: overdraft agreement (multi-purpose line) and the framework agreement on revolving line for opening of letters of credit signed on 13 December 2011 and the agreement for issuing of letters of credit (stand by).
By virtue of these annexes, it was determined that:
– the overall limit for the use of particular products in the multi-purpose line amounts to PLN 194 million, where the amount of up to PLN 194 million can be used in the form of loans, up to PLN 194 million in the form of letters of credit, and up to PLN 40 million in the form of guarantee;
– the total value of letters of credit opened in the revolving line amounts up to PLN 50.7 million.
The other contract terms were not changed.
By virtue of the agreement for issuing of letters of credit (stand by) the limit up to PLN 12 million was determined. Limit to the agreement can be used as a line for rental guarantees.
The line collateral is the blank promissory note of LPP SA and the statement of execution.
The total value of the above agreements at the date of signing is PLN 256.7 million and this amount exceeds 10% of the equity of LPP SA.