45/2013 – Information on the fulfilment of the condition suspending the material agreement

With respect to Current Report no. 41/2013, the Management Board of Trakcja S.A. (hereinafter referred to as the: “Company”) informs that the Company due to the conclusion of the Recourse Factoring Agreement on 10 May 2013 by and between BRE Faktoring Spółka Akcyjna located in Warsaw (hereinafter referred to as the: “Factor”) and the Company (hereinafter referred to as the: “Company”), yesterday, i.e. on 15 May 2013, obtained consent from Alior Bank S.A. (the bank with which the Company signed a credit agreement – Current Report no. 24/2013 of 20 March 2013) to conclude the Agreement.

On the basis of the Agreement, the Factor renders factoring services in the form of acquiring receivables with recourse to the Company, financing the receivables, maintaining settlement accounts and  monitoring entrepreneurs being the Company’s debtors due to sale, delivery of goods or rendering of services, obliged to pay the price due to sale, delivery of goods or rendering of services, who as a result of acquiring the receivables by the Factor become the Factor’s debtors.

Since the consent of Alior Bank S.A.was obtained and the Company passed the same to the Factor, the condition preventing the Agreement from becoming effective was fulfilled.    

Legal basis for the report: § 5, par. 1 point 4 of the Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state.