Concluding the agreement on guarantee limit with Societe Generale S.A.
Report No:41/2011
Legal basis:Art. 56 section 1 item 1 of the Act of Public Offering – confidential information
Signatures:Marek Sobiecki, Second Vice President of the Management Board of P.R.I. “POL-AQUA” S.A.
Robert Molo, Member of the Management Board of P.R.I. "POL-AQUA” S.A.
Content:The Management Board of Przedsiębiorstwo Robót Inżynieryjnych “POL-AQUA” S.A. with its registered office in Piaseczno (“Company”) hereby informs you that as of today, the agreement No. 2011/008 on guarantee limit was signed with Societe Generale S.A. (“Bank”) branch in Poland.
In the scope of the granted limit for bank guarantees with validity terms not longer than 60 days, the Bank shall grant the following guarantees:
- customs guarantees,
- performance bonds, including in the period of guarantee and warranty
- tender guarantees,
- advance payment guarantees,
- defects liability guarantees.
In the scope of the credit limit, the Bank shall grant bank guarantees up to the total amount not exceeding PLN 100 million (the limit from 36 to 60 months amounts to PLN 20 million).
The said limit was granted for the period from the moment of signing the agreement to 31 August 2012.
Moreover, based on a separate agreement No. 2011-055 of 19 October 2011, the Bank granted a short-term revolving credit facility to the maximum amount of PLN 25 million (from the date of signing the agreement to 31 August 2012).
The total amount of the granted guarantee limit and short-term revolving credit facility cannot exceed PLN 100 million.
Contractual conditions are in accordance with conditions commonly applied for this type of agreements.
The amount of the credit limit does not exceed the amount of 10% of the value of revenues from the sales of the capital group of the eminent.
POLAQUA Mostostal Wyroby betonowe TECO