Legal basis: Art. 56.1.2 of the Act on Public Offering – current and periodic information
The Management Board of LC Corp S.A. (the "Issuer") reports that on 31 October 2014, the Issuer's subsidiary undertakings, i.e. Warszawa Przyokopowa sp. z o.o., whose the Issuer directly and indirectly (by its subsidiary undertakings: LC Corp Invest XVIII Sp. z o.o. and LC Corp Invest XVIII spółka z ograniczoną odpowiedzialnością Real Estate S.K.A.) is the sole partner (the "Lender") and LC Corp Invest I sp. z o.o., whose the Issuer directly and indirectly (by its subsidiary undertaking: LC Corp Invest XVI sp. z o.o.) is the sole partner (the "Borrower") concluded a cash loan agreement.
Pursuant to Art. 2.2. of the Regulation of the Minister of Finance (Journal of Laws No. 33, item 259) of 19 February 2009, on current and periodic information published by issuers of securities and the conditions for recognising as equivalent the information required under the provisions of law of a non-member state (the "Regulation"), the Issuer informs that for the last 12 months its subsidiary undertakings, i.e. the Lender and the Borrower, have concluded three loan agreements whose the total value amounts to PLN 98,000,000.00 and thus exceeds 10% of the Issuer's equity. The above-mentioned value includes the Borrower's liability in favour of the Lender in the amount of PLN 5,000,000.00 arising from a loan agreement of 20 November 2013, the Borrower's liability in favour of the Lender arising from the agreement described below and the Borrower's liability in favour of the Lender in the amount of PLN 30,000,000.00 arising from the agreement of 31 October 2014.
Pursuant to Art. 9.8 of the Regulation, the Issuer reports that the agreement of the highest value is the agreement concluded on 12 August 2014, under which the Lender granted a loan to the Borrower in the amount of PLN 63,000,000.00 (the "Agreement"). The loan was advanced for an indefinite period of time, whereupon the Borrower undertook to return to the Lender the whole or part of the loan amount with interest within one month of receiving the Lender's written notice. The interest rate was established based on WIBOR 1M increased by margin. The loan was granted to enable the Borrower to run its ongoing business associated with the financing the LC Corp Capital Group companies conducting the property development activity in accordance with the Issuer's strategy. Other terms and conditions of the Agreement are similar to standard practices in agreements of this type.
Legal basis: 2.1.44, in connection with 2.2 of the Regulation of the Minister of Finance (Journal of Laws, No. 33, Item 259) dated 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognising as equivalent the information required by the laws of a non-member state.