Agreement with Bank Handlowy w Warszawie SA (extension of the overdraft facility agreement)

Date

2016-01-21

Current report no.

1/2016

Management Board of TIM SA with its registered office in Wrocław informs that on 11 January 2016 the Company received a copy, signed by both parties, of Annex No.13 of 05 January 2016 to an Overdraft Facility Agreement No. WRO/KB/0092/05 concluded on 14 November 2005 between Bank Handlowy w Warszawie SA with its registered office in Warsaw (hereinafter referred to as “Bank”) and TIM SA.

Pursuant to the above Annex No. 13 to the overdraft facility agreement the Bank extended the bank overdraft facility for TIM SA in the amount of PLN 5 mln (in words: five million zlotys) by 05 January 2017 (“Loan Final Repayment Date”).
The interest rate on the loan has been determined as the sum of the WIBOR rate for one-month deposits and the Bank’s margin.
The basic collaterals specified in the overdraft facility agreement, referred to above, are: declaration of submission to execution, pledge on inventories and mortgage on real property located in Wrocław at ul. Stargardzka 8 with assignment of rights from the insurance of the aforementioned assets. The Issuer informed of the establishment of the above pledge in the current report No. 14/2013 of 29.08.2013. The Issuer informed of the establishment of the above mortgage in the current report No. 2/2014 of 14.02.2014.
In addition to Annex No. 13 to the overdraft facility agreement, referred to above, the parties have entered into the following agreements within the last 12 months: a revolving loan agreement No. BDK/KR-O/000057194/0029/13 of 05 April 2013, with amendments for the amount of PLN 10 million (the Company announced to the public the information on the above-mentioned agreement on 30.03.2015, current report no 7/2015) and an agreement on granting a bank guarantee of 10.11.2015 up to the amount of EUR 2 million of which the Issuer informed in the current report No. 34/2015 of 10.11.2015.

The total value of the agreements concluded by TIM SA and Bank Handlowy w Warszawie, referred to above, exceeds 10% of the Company’s equity capital.

2016-01-12, Maciej Posadzy – Member of the Board
2016-01-12, Anna Slobodzian-Pula – Member of the Board