Agora S.A.: Aneks do umowy o limit kredytowy z DNB Bank Polska SA (2020-04-24)

Annex to the credit limit agreement
Regulatory filing
Management Board of Agora S.A. with its registered office in Warsaw ("Company", "Agora"), with reference to the report No. 6/2017 of May 25, 2017, No.13/2018 of May 18, 2018 , No. 8/2019 of March 29, 2019 , No. 24/2019 of August, 29 2019, No. 28/2019 of December, 23 2019 and No. 12/2020 of March, 29 2020,regarding the Credit Limit Agreement ("Agreement") with the bank DNB Bank Polska S.A. ("Bank"), announces the today’s signing of Annex No. 6 to the above Agreement ("Annex No. 6").
Pursuant to the signed Annex No. 6, the period of availability of the credit limit in the amount of 35,000,000.00 PLN (thirty-five million zlotys), which the Company may use, is extended until September 29, 2020 on the same principles as in the Agreement on which the company announced in current reports of May 25, 2017, May 18, 2018, March 29, 2019, August 29, 2019 and No. 28/2019 of December 23, 2019. Annex suspended some of the previous requirements of the Bank and introduced new ones reflecting the current financial situation of the Company, among others announced new requirements as to the Agora Group's result at the EBITDA level in the second quarter of 2020, the amount of cash balance at the end of each month in the loan period to April, 30 2021, and the need to obtain the Bank's consent for dividend payment in 2020.
At the same time, pursuant to Annex No. 6, the repayments of capital installments for Non-Renewable Credit 1 and Non-Renewable Credit 2 were temporarily suspended for the period up to and including September 30, 2020. The grace period does not include repayment of interest. The repayment of principal installments due for the grace period for Non-Renewable Credit 1 and Non-Renewable Credit 2 will be made on the day of final repayment of Non-Renewable Credit 1 and on the day of final repayment of Non-Renewable Credit 2.
As a result, two installments of Non-Renewable Credit 1 (each in the amount of 2.1 million PLN) were postponed until April 1, 2021, and two installments of Non-Renewable Credit 2 (each in the amount of 6.3 million PLN) were postponed until January 2, 2023.
The Credit Limit bears interest at WIBOR for one-month deposits in PLN increased by the Bank's margin. In the event of a failure to pay part or all of the Bank's receivables by the deadline specified in the Agreement, Bank will charge the Company with interest in the amount of the base rate plus penalty interest. In addition, there are no provisions regarding contractual penalties in Annex No. 6.
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 (Regulation on market abuse) and repealing Directive 2003/6/WE of the European Parliament and of the Council and Commission Directive 2003/124/WE, 2003/125/WE and 2004/72/WE (Official Journal EC L 173 of 12/06/2014).