Widawski Delko

Śrem, July, 21, 2011.

 Current Report 14/2011

 
The Delko S.A. Board of Directors hereby announces the information to the public that yesterday an overdraft credit contract was signed between the entities forming the Delko Group of Companies, i.e.: Delko S.A., Delko OTTO Sp. z o.o., Delko RDT Księżycowa Sp. z o.o., Cosmetics Sp. z o.o., PH AMA S.A., FROG MS Delko Sp. z o.o., NIKA Sp. z o.o. and BRE Bank S.A. (Corporate Branch in Poznań). The overdraft credit has been given in the total amount of up to 50 million PLN (in words: fifty million zlotys). Financial means originating from the above source will be allocated and used for funding current operations of borrowers and (in the first place) for the repayment of:

1. Delko S.A. liabilities under a contract of liabilities payment dated May, 07,2008 along with later amendments,
2. credit agreement of June, 28, 2010 along with later amendments, concluded by Delko S.A. and Kredyt Bank S.A.,
3. credit agreement of March, 21, 2003 along with later amendments, concluded by PKO BP SA and Delko OTTO Sp. z o.o.,
4. credit agreement of December, 03, 2009 along with later amendments, concluded by Bank Millenium S.A. and Delko RDT Księżycowa Sp. z o.o.,
5. credit agreement of July, 04, 2008 along with later amendments, concluded by Bank PKO BP SA and Delko RDT Księżycowa Sp. z o.o.,
6. credit agreement of October, 20, 2008 concluded by Bank PKO BP S.A. and Delko RDT Księżycowa Sp. z o.o.,
7. credit agreement of October, 14, 2010, concluded by Kredyt Bank S.A. and PH AMA S.A.,
8. credit agreement of May, 30,2005 along with later amendments, concluded by Kredyt Bank SA and Cosmetics Sp. z o.o.,
9. credit agreement of July the 1st 2009 along with later amendments, concluded by Bank PKO BP SA and FROG MS Delko Sp. z o.o.,
10. credit agreement of April, 07,2011 concluded by Kredyt Bank SA and NIKA Sp. z o.o.,
11. factoring limit, granted on the basis of the factoring limit contract of October, 09, 2008 along with later amendments, concluded by DnB NORD Polska S.A. and PH AMA S.A.

Interest rate on the above has been based on the WIBOR rate for O/N deposits and has been increased by the bank's margin. The security of liability repayment consists of blank notes issued by all of the borrowers. The period for the use of the concerned credit has been agreed by the Parties until July, 18, 2012.
 

The basis for recognition of the contract as significant is the amount of Delko S.A.'s equity.