GIGROUP: strona spółki
24.04.2020, 23:48
WSE Conclusion by the Issuer of Annex 7 to the Credit Agreement of 18 November 2015
The Management Board of Work Service S.A. ("Issuer", "Company" or "Borrower") informs that on 24 April 2020 The Company concluded with Bank BNP Paribas Bank Polska SA, Bank Millennium SA, Santander Bank Polska SA and Powszechna Kasa Oszczędności Bank Polski SA. ("Lenders") annex no. 7 ("Annex") to the credit agreement of 18 November 2015, of which the Company informed in current report no. 43/2015 ("Credit Agreement"). The conclusion of previous annexes to the Credit Agreement concerned, among others, current reports no. 34/2017, no. 7/2018, no. 82/2018, no. 86/2018, no. 15/2020 and no. 17/2020.
This Annex (similarly to the previous annex no. 6 of 6 April 2020) serves to amend the terms and conditions of the Credit Agreement in such a way as to enable the Company and the Lenders to complete the currently ongoing advanced negotiations on the long-term restructuring of the Company's debt (information about which was provided by the Company in current reports no. 1/2020 and no. 10/2020), in the context of implementation of the provisions of the investment agreement of 13 February 2020. between the Borrower and a limited liability company under Italian law under the name of Gi INTERNATIONAL S.R.L. with its registered office in Milan ("Investor"), on the basis of which the Borrower and the Investor undertook, among other things, to take all actions in order to carry out the Transaction as a result of which, among other things, restructuring of the Lenders' receivables from the Credit Agreement and their partial repayment, taking into account the changes accepted by the Lenders, is envisaged; the Company informed about the conclusion of this agreement in current report no. 12/2020. Pursuant to the Annex, among other things, there was an extension of the current deadline (24 April 2020) until 30 April 2020, for the payment of bridge financing in the amount of PLN 12,500,000 by the Investor to the Borrower or its on terms satisfactory to the Lenders; failure to meet this deadline constitutes an event classified a Breach of the Credit Agreement. The Annex also modifies the terms and conditions of interest payment, on the amounts of the used Credit, subject to the payment of the bridge financing indicated above. As a result of the analysis carried out, the Issuer assumed that qualification of the above-mentioned information as confidential within understanding of Art. 17 sec. 1 MAR, subject to publication in the form of this report, is justified. Legal basis: Art. 17(1) of Regulation no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. Signatures: Iwona Szmitkowska – President of the Management Board Jarosław Dymitruk - Vice-President of the Management Board
This Annex (similarly to the previous annex no. 6 of 6 April 2020) serves to amend the terms and conditions of the Credit Agreement in such a way as to enable the Company and the Lenders to complete the currently ongoing advanced negotiations on the long-term restructuring of the Company's debt (information about which was provided by the Company in current reports no. 1/2020 and no. 10/2020), in the context of implementation of the provisions of the investment agreement of 13 February 2020. between the Borrower and a limited liability company under Italian law under the name of Gi INTERNATIONAL S.R.L. with its registered office in Milan ("Investor"), on the basis of which the Borrower and the Investor undertook, among other things, to take all actions in order to carry out the Transaction as a result of which, among other things, restructuring of the Lenders' receivables from the Credit Agreement and their partial repayment, taking into account the changes accepted by the Lenders, is envisaged; the Company informed about the conclusion of this agreement in current report no. 12/2020. Pursuant to the Annex, among other things, there was an extension of the current deadline (24 April 2020) until 30 April 2020, for the payment of bridge financing in the amount of PLN 12,500,000 by the Investor to the Borrower or its on terms satisfactory to the Lenders; failure to meet this deadline constitutes an event classified a Breach of the Credit Agreement. The Annex also modifies the terms and conditions of interest payment, on the amounts of the used Credit, subject to the payment of the bridge financing indicated above. As a result of the analysis carried out, the Issuer assumed that qualification of the above-mentioned information as confidential within understanding of Art. 17 sec. 1 MAR, subject to publication in the form of this report, is justified. Legal basis: Art. 17(1) of Regulation no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC. Signatures: Iwona Szmitkowska – President of the Management Board Jarosław Dymitruk - Vice-President of the Management Board