AGORA SA informs

Execution of multi-purpose credit line agreementThe Management Board of Agora S.A. with its registered seat in Warsaw ("the Company") hereby informs that on May 28th, 2014 the Company entered into a multi - purpose credit line agreement ("Agreement") with Bank Polska Kasa Opieki S.A. ("Bank).On the basis of the signed Agreement and after fulfillment of conditions relating to the establishing of collateral relating to credit payment and fulfillment of other conditions commonly required in case of loan agreements for comparable amount of money, the Company shall be provided with the credit limit of up to PLN 169,929,342.64 divided into:- refinancing credit of PLN 34,929,342.64 (for payment of credit line "B" which was made available on the basis of the long-term syndicated loan agreement no 2002/3 with Bank Polska Kasa Opieki S.A., executed on April 5, 2002, with later amendments about which the Company informed in regulatory filing 9/2002 - further referred to as the long-term syndicated loan agreement),- time credit of up to PLN 100,000,000 which may be used by May 31, 2015 for financing or refinancing net payment resulting from the agreements which may be signed to purchase fixed assets and investment agreements, share purchase, purchase of companies operating in media, advertising and related fields as well as financing of current working capital needs. The possible time credit, will be paid in 13 equal quarterly installments, i.e. since June 30, 2016 until June 30, 2019. Interest rate of the credit is defined on the basis of the WIBOR rate for the assumed interest period plus the Bank's margin.- credit facility in the current account of up to PLN 35,000,000 for financing of current capital needs of the Company and other entities from the Agora Group.According to the Agreement the credit limit shall be secured with, inter alia, joint real estate mortgage upon real estate assets located at Czerska 8/10 Street owned by Agora SA and upon perpetual usufruct on real estate assets to which it is entitled, as well as on the building located on the property, Moreover, the credit limit may be secured with registered pledges on assets and future assets (tangible and intangible) of Agora S.A. so the value of collateral remains in the agreed relation to the total amount consisting of refinancing credit, time credit and credit facility in the current account.With the exception of provisions relating to the interests on late payments in the amount of triple lombard rate set by National Bank of Poland, the agreement contains no provisions relating to penalties.The full amount of credit limit exceeds 10% of Agora's share capital, therefore it is recognized as significant agreement.After fulfillment of conditions necessary to obtain the credit line and refinancing of credit line "B" on the basis of the long-term syndicated loan agreement with Bank and other liabilities resulting from the above agreement, the long-term syndicated loan agreement with Bank shall be dissolved and all collaterals set on its basis shall be terminated.

More information on page: biznes.pap.pl

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