Apator S A : Conclusion of annex to multi-product contract between ING Bank Śląski SA and entities in Apator Group

In reference to current reports no 23/2016, no 34/2018, no 54/2018 and no 57/2019 the Executive Board of Apator SA announces that on 10th August 2020 the annex to multi-product contract dated 22nd June 2016 between ING Bank Śląski SA and the following entities of Apator Group: Apator SA, Apator Powogaz SA, Apator Metrix SA, FAP Pafal SA, Apator Elkomtech SA, Apator Rector Sp. z o. o., Apator Telemetria Sp. z o. o. (hereinafter referred to as 'the Company') was concluded.

Under the signed annex, the credit period was extended for the next two years and the revolving credit limit for the current financing of the Companies was increased from PLN 140 million to PLN 160 million.

The credit limit may be used in the form of working capital loans, bank guarantees, letters of credit and the purchase of receivables by the Bank. The limit interest rate is based on WIBOR 1M increased by the bank's margin.

In connection with the conclusion of the annex, the collaterals of the Contract have changed, which are now:

- registered pledges on the Company's inventories with a total value of PLN 77.5 million,

- registered pledges on the fixed assets of the Companies with a total net value of PLN 22.1 million,

- registered pledges on the Company's bank accounts maintained by ING Bank Śląski SA,

- mortgage on real estate of Apator SA to the value of PLN 35.9 million,

- assignment of rights from the insurance policy of the above mentioned securities,

- blank promissory notes together with promissory note declarations issued by borrowers.

Liabilities resulting from the granted limit are charged to the Companies jointly and severally, up to a maximum amount of PLN 160 million.