Current Report No 15/2017 Of 25.04.2017
SIGNING OF AN ANNEX TO THE CONTRACT WITH BANK POLSKA KASA OPIEKI S.A.

The Board of KRAKCHEMIA S.A. with a seat in Kraków (henceforth: "the Company"), informs that on 25.04.2017 an annex to the contract on multi-purpose credit limit of 15 January 2014 concluded with Bank Polska Kasa Opieki S.A. with a seat in Warsaw (henceforth: "TheBank") was signed.

The period of use of the credit amounting to 17.000.000,00 PLN in accordance with he agreement with the Bank was prolonged till 31.10.2017 with the gradual decrease of the limit on a monthly basis by the amount of 500.000,00 PLN, starting with May 2017, down to the final amount of credit of 8 m PLN.

The due interest on the amount of the used credit has been set to be in accordance with the changeable interest rate, calculated on the basis of WIBOR 1M basic amount, increased by the Bank`s margin.

The annex incorporates the Company`s obligation to signing by 30 June 2017 a contract on the co-operation with Basell Orlen Polyolefins for the period longer than till 31 October 2017 and meeting by 30 June 2017 the condition that suspends the implementation of this contract, which concerns the provision by the Company of a safeguard in the form of a bank payment guarantee in the form and wording that is acceptable for Basell Orlen Polyolefins. If the above-mentioned condition is not met, the period of the limit`s accessibility for the Company will be shortened by 3 July 2017, and the Company will be obliged to the full payment of the limit by this day at the latest.

The Annex was concluded with the reservation of establishing by the Company of a safeguard in the form of subjection to the collection on the basis of Art. 777 § 1 of the Bill KPC with the period till 31 May 2017.

The other conditions of the agreement have not undergone a change.

The Company informed upon the conclusion of the contract in the current report No 2/2014 of 16.01.2014, and on the changes in the current report No 1/2016 of 14.01.2016 as well as in the current report No 28/2016 of 29.09.2016.

The criterion of regarding the contract as considerable is the value of the subject of the contract exceeding 10% of KRAKCHEMIA S.A. equity capital.


Legal basis:

Art. 17 para. 1 - MAR

Krakchemia SA published this content on 25 April 2017 and is solely responsible for the information contained herein.
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