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12/2014 Reverse factoring agreement with Alior Bank S.A.

By 30 May 2021No Comments

 

May 13, 2014 – Current report – 12/2014

 

Reverse factoring agreement with Alior Bank S.A.

 

Current report no.: 12/2014

Date: May 13, 2014

Issuer’s trading name: CI GAMES S.A.

Subject:Reverse factoring agreement with Alior Bank S.A.

Legal basis: Art. 56, sec. 1, point 2 of the Act on Public Offerings – Current and Periodic Information

 

Report content:

The Management Board of CI Games S.A. announces that on May 13, 2014 it executed a reverse factoring agreement with Alior Bank S.A., based in Warsaw, ul. Łopuszańska 38D (the “Bank”), on the following terms: 1) Limit amount: EUR 2 000 000; 2) Use: financing for the purchase of / payment for licenses / development work by suppliers concerning the Enemy Front and Lords of the Fallen games; 3) Final repayment deadline: February 28, 2015; 4) Interest: EURIBOR 1M plus the Bank’s margin, i.e. 2% annualized; origination commission: 0.8%, commitment fee (calculated from unused amounts): none; 5) Collateral for the product: Confirmed assignment of City Interactive USA Inc.’s receivables; proceeds from the assigned bank account; declaration on submission for enforcement proceedings and power of attorney for the Issuer’s bank accounts at Alior Bank S.A. Other provisions in the agreement do not differ from conditions commonly applied to this type of agreement. The agreement was recognized as significant since its value exceeds 10% of the Issuer’s equity (as at the end of 2013 the Issuer’s equity totaled PLN 79.4 million). The Issuer’s Management Board also announces that it signed an annex today with Alior Bank S.A. to a framework agreement on treasury transactions, under which forward contracts may be executed, extending the framework agreement’s validity to May 12, 2015.

 

Date Full name Position Signature
May 13, 2014 Marek Tymiński CEO Marek Tymiński