TOYA S.A. (hereinafter: “Issuer”) informs that on September 8, 2020 TOYA S.A. Supervisory Board consented to the conclusion by the Issuer of a non-renewable loan agreement with BNP Paribas Bank Polska Spółka Akcyjna with its registered office in Warsaw (hereinafter: “Agreement”). The subject of the Agreement is a loan granted to increase / equip the capital of a subsidiary – YATO TOOLS (JIAXING) CO., LTD with its registered office in China (as mentioned in the Current Report No. 31/2019 of December 10, 2019).
The loan amount is PLN 24,000,000. The loan will be disbursed from September 19, 2020 until December 31, 2021 The final repayment has been established by September 30, 2023, and the principal will be repaid in equal principal installments after the day on which the loan disbursement period has expired.
The loan will be secured by:
a) a contractual mortgage on a real estate in Wrocław at ul. Sołtysowicka 39 to the amount of PLN 36,000,000.00 (in words: thirty six million zlotys),
b) assignment of rights under the property insurance policy in Wrocław at ul. Sołtysowicka 39
the sum insured cannot be less than PLN 12,000,000.00 (say: twelve million zlotys)
c) general assignment of receivables due to the Issuer from debtors (recipients)
d) a blank promissory note issued by the Issuer accompanied by a promissory note declaration.
e) Power of attorney to the Issuer’s current accounts kept with the bank
The interest rate will be equal to the WIBOR 1M base rate increased by the Bank’s margin. According to the agreement, the loan may be repaid early.The remaining terms of the Agreement do not differ from those commonly used in this type of agreement.
The Issuer will inform about the conclusion of the Agreement in a separate report.
Legal basis: Article 17 (1) of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the EU. No. 173, p. 1, as amended)
Grzegorz Pinkosz
President of the Management Board