The Management Board of Toya S.A. hereby announces that on 29 November 2012 TOYA S.A. („Debtor”) has received information on signing by Bank Handlowy S.A. in Warsaw („Bank”) an annex to the significant agreement that is Overdraft facility agreement No. BDK/KR-RB/000054601/0641/10 of 22 December 2010 („Overdraft facility agreement”) signed between the Debtor and Bank for the amount of PLN 25 000 000 with the settlement date on 20 December 2013.
The signed annex is prolonging the credit facility for the next year including the following changes:
a) On 1 March 2013 the credit limit will be increased from PLN 15 000 000 to PLN 25 000 000.
b) The Bank is obliged to decrease the credit margin since the date of the signing of the annex.
c) The bank resigns from the obligation of the Debtor for not paying the dividend in the amount of more than 50% of the net result for 2011.
d) According to the annex no 4 dated 28 November 2012 to the Registered Pledge Agreement No BDK/ZR-RG/000054601/0103/10 dated 22 December 2010 Debtor makes an additional registered pledge to the bank on trading goods stored in the warehouse in Młochów, Al. Kasztanowa 160 and in the warehouse in Wrocławiu, ul. Sołtysowicka 39 (new location)
Other terms and conditions are similar to those commonly used for this type of agreement.
The criteria for designating this as a significant agreement is that the value of the agreement exceeds 10% of the amount of equity of Toya S.A.
Legal basis: article 56 point 1.2 of the Act on Public Offering – current and periodic information and §5 paragraph 1 point 3 of the Regulation of the Minister of Finance on current and periodic information provided by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognized as equivalent.
Grzegorz Pinkosz
President of the Management Board