TOYA S.A. (hereinafter referred to as the: “Issuer”) announces that on 11 February 2022 the Supervisory Board of TOYA S.A. agreed to the conclusion by the Issuer of an annex to the non-revolving credit agreement no. WAR/8833/20/327/CB of14 September 2020 (hereinafter referred to as the: “Annex”). The Issuer informed about the conclusion of the non-revolving credit agreement no. WAR/8833/20/327/CB of 14 September 2020 in current report 42/2020 of 14 September 2020.
According to the Annex, the amount of the credit is to be increased to PLN 40 000 000. The period of disbursement of the credit will be prolonged to 30 June 2022. The final repayment was determined as at 31 March 2024, whereas the repayment of the principal shall take place in equal instalments after the expiration of the credit disbursement period. The purpose of the credit is to increase/equip the capital of the subsidiary company – YATO Tools (Jiaxing) Co., LTD.
According to the annex, the collateral will consist of:
(a) contractual real estate mortgage in Wrocław at ul. Sołtysowicka 39 up to the amount of PLN 36,000,000.00 (say: thirty-six million Zloty),
b) assignment of rights from the insurance policy for the real estate in Wrocław at ul. Sołtysowicka 39, whereas the insurance sum cannot be less than PLN 12,000,000.00 (say: twelve million zlotys)
c) general assignment of receivables due to the Issuer from debtors (buyers)
d) registered pledge up to the maximum amount of security of PLN 60,000,000.00 (say: sixty million Zloty) on the Borrower’s non-medical stocks located in Wrocław at ul. Sołtysowicka 39, with the total value of no less than PLN 19,000,000.00 (nineteen million Zloty)
e) assignment of rights from the insurance policy for the benefit of the Bank regarding the Subject of the Pledge, whereas the sum insured cannot be less than PLN 20,000,000.00 (say: twenty million Złoty)
f) blank bill of exchange issued by the Issuer with a blank bill of exchange agreement.
The remaining conditions of the Agreement remain unchanged and do not deviate from the conditions generally applied in agreements of this type.
The Issuer will inform about the conclusion of the Annex in a separate report.
Legal basis: Art. 17 section 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 of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ EU. L. of 2014 No. 173, page 1, as amended).
Grzegorz Pinkosz
President of the Management Board