Legal basis: Article 17 par. 1 MAR - confidential information.
Subject: Amendment of the credit agreement entered into by a subsidiary of the Issuer
The Management Board of VRG S.A. with its registered office in Kraków (hereinafter: the "Issuer") announces that on 27 June 2024, documentation was concluded regarding an amendment to the multi-purpose limit credit agreement dated 9 March 2015, as amended, concluded between the bank Powszechna Kasa Oszczędności Bank Polski S. A. with its registered office in Warsaw (the "Bank") and the Issuer's subsidiary, i.e. W.KRUK S.A. with its registered office in Kraków (the "Multi-purpose Loan Agreement"), as reported by the Issuer in current reports No. 8/2015, 65/2015, 38/2017, 38/2020 and 30/2022.
The amendments to the Multi-purpose Loan Agreement include the extension for a period of 24 months, i.e. until 30 June 2026, of the multi-purpose credit limit up to PLN 95,000 thousand consisting of the following sub-limits for:
1) an overdraft facility of up to PLN 52,000 thousand;
2) bank guarantees up to PLN 45,000 thousand
3) documentary letters of credit up to PLN 10,000 thousand.
The Bank's claims under the Multi-purpose Loan Agreement are secured by:
1) a declaration of submission to enforcement pursuant to Article 777 of the Code of Civil Procedure,
2) other collateral, with the proviso that the following collateral also serves as security for the loan granted to W.KRUK S.A. by the Bank under the Term Loan Agreement (Loan B) dated March 09, 2015, as amended, up to the amount of PLN 71,400 thousand, as reported by the Issuer in Current Reports No. 8/2015, 17/2015 and 38/2017, which are:
(a) a registered pledge on inventory belonging to W.KRUK S.A. ("Inventory") with a value of not less than PLN 130,000 thousand,
b) a registered pledge on the "W.KRUK" mark,
c) assignment of rights under the Inventory insurance agreement,
d) agreement between the Bank and W.KRUK S.A. governing the settlement of payment transactions effected by W.KRUK S.A.'s counterparties using bank cards.