On 6 March 2024 TOYA S.A. (hereinafter referred to as the “Issuer”) was informed of the approval by the Issuer’s Supervisory Board for the Issuer to conclude with Citibank (China) Company Limited-Shanghai Branch, with its registered office in the People’s Republic of China (hereinafter referred to as the “Bank”), Surety Agreement No. BDK/UP/000054601/0040/23 (hereinafter referred to as the “Surety Agreement”). The Surety Agreement shall be concluded to secure the repayment of receivables due to the Bank from the planned conclusion by YATO TOOLS (Shanghai) Co., Ltd, with its registered office in the People’s Republic of China (hereinafter referred to as the “Subsidiary”), and the Bank, of the Short-Term Revolving Credit Agreement (hereinafter referred to as the “Credit Agreement”) in the amount of CNY 60,000,000.00 (in words: sixty million Chinese yuan). The Issuer shall inform about the Credit Agreement conclusion in a separate current report.
Surety Agreement assumes:
- surety of the Issuer for the liabilities of the Subsidiary up to CNY 72,000,000.00 (in words: seventy-two million Chinese yuan);
- granting of a surety until 31 August 2025;
- the Bank authorisation to debit the Issuer’s current account with the amount of the liabilities under the Surety Agreement;
- an obligation on the part of the Issuer to deliver, at the request of the Bank, within the deadline and in accordance with the terms and conditions indicated by the Bank, in the wording accepted by the Bank, a statement of submission to enforcement in the form of a notarial deed pursuant to Article 777 § 1 (5) of the Code of Civil Procedure.
Other terms and conditions of the Surety Agreement do not deviate from those commonly applied to this type of agreement.
The Issuer shall announce the conclusion of the Surety Agreement in a separate report.
Legal basis: Article 17(1) of 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).
Maciej Lubnauer Robert Borys
Vice President of the Management Board Vice President of the Management Board