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Home page/Investor Relations/Reports/Current reports/Report no 13 - Fulfillment of two conditions precedent to Consent and Waiver Letter pertaining to the A4 project

Report no 13 - Fulfillment of two conditions precedent to Consent and Waiver Letter pertaining to the A4 project

Raporty bieżące (ENG) 2011-09-27

Referring to the Report no 8/2011 dated 9 June 2011 on concluding Consent and Waiver Letter pertaining to the A4 project, and the Report no 12/2011 on registration of the share capital increase of a subsidiary company of the Issuer, the Management Board of Stalexport Autostrady S.A. discloses that on 26 September 2011 it was informed that two conditions precedent to obtain the Financing Banks consent to increase the share capital of Stalexport Autostrada Małopolska S.A. (the conditions included in paragraph 1 and 2 of the mentioned Report mo 8/2011), i.e. it resulted in:

  • An increase in the share capital in SPV by the Issuer;
  • Setting –off of the mutual receivables between the Issuer and SPV resulting from share capital increase in Stalexport Autostrada Małopolska S.A. (hereinafter referred to as „SAM”) and Phase I Cost Refund, and prepayment by SAM of the loan (PLN 40m); primarily drawn for payment of the Issuer’s receivable resulting from the said Phase I Cost Refund.

 

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