Extension of the agreements with DnB Bank Polska S.A.


Legal grounds:
Art. 56 Section 5 of the public offering Law – updating information


The Management Board of INTERSPORT Polska S.A. with the seat in Cholerzyn informs that on 26 May 2015 the credit agreement and the agreement for a limit on bank guarantees concluded with DnB Bank Polska S.A.based in Warszawa were extended. These two agreements were described in the current report No. 20 of 31 May 2013.

The credit agreement in the current account – of the highest amount available for use of PLN 6,000,000 (six million zlotys) was extended for a further period of two years in order to finance the Company's current operations. The Company also extended the agreement for a limit on bank guarantee – of the highest amount available of EUR 350,000. The final date for the use of the limit was fixed on 31 August 2016, while the date of the final repayment was fixed on 31 August 2017.
Other terms and conditions included in the agreements do not differ from those prevailing on the market.

The total value of all contracts concluded with DnB Bank Polska S.A.amounts to PLN 20,800,000 (twenty million eight hundred thousand zlotys) and EUR 350,000 (three hundred fifty thousand Euros) and the agreement of the highest value is a long-term credit agreement concluded on 6 June 2011 for the term of 10 years, refinancing the expenses incurred for the construction and equipping of an office building in Cholerzyn in the amount of PLN 12,000,000 (twelve million zlotys). The deadline for the final repayment of the credit falls on 30 June 2012. Terms and conditions included in the agreements do not differ from those prevailing on the market and do not include any provisions on penalties.

These agreements are not considered significant pursuant to the criterion of considering an agreement significant adopted by INTERSPORT Polska S.A. (10% of the revenue on sales gained for the last four quarters). However, in the opinion of the Management Board, the extension of the said agreements is important from the point of view of financing the Company.


Załączniki
sport to the people