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Zrozumiałem i akceptuję

Granting a Bank Guarantee at the order of TIM SA

Date

2015-11-12

Current report no.

34/2015

 

Management Board of TIM SA with its registered office in Wrocław informs that on 10.11.2015 Bank Handlowy w Warszawie Spółka Akcyjna with its registered office in Warsaw, acting on behalf of TIM SA (Principal), has granted an irrevocable, transferable and unconditional guarantee to make the payment up to the amount of EUR 2 million (in words: two million euros) to HE Enterprises Sp. z o.o. with its registered office in Warsaw (Guarantee Beneficiary) in order to secure timely payments of the Principal’s financial liabilities arising from Lease Agreement concluded on 03.11.2015 between HE Enterprises Sp. z o.o. with its registered office in Warsaw and TIM S.A. The Management Board of TIM SA published the information about the conclusion of the lease agreement, referred to above, in the current report No. 32/2015 on 03.11.2015.

The Guarantee shall be valid from 10.11.2015 to 09.11.2016.
A mortgage established for the benefit of Bank Handlowy w Warszawie SA on the perpetual usufruct right of the real property specified in the land and mortgage register KW No. WR 1 K/00095155/3 located in Wrocław at ul. Stargardzka 8, will be the collateral for the liabilities arising from the guarantee up to the amount of EUR 2.4 million (two million four hundred thousand euros) and a registered pledge on the inventories of goods in the Logistics Center in SIechnice along with the assignment of rights from the insurance.
The Company will inform of the establishment of the mortgage, referred to above, in a separate current report which will be announced to the public immediately after receiving the decision of the land and mortgage register court on entering the mortgage into the Land and Mortgage Register, referred to above.
In addition, the Management Board of TIM SA informs that on 10.11.2015 TIM SA received a copy of Annex No. 10 to the Agreement No. PBP /ZDS/ZR-RG/0015/05 signed by TIM SA and Bank Handlowy w Warszawie SA on the Establishment of the Registered Pledge of 14 November 2005 dated 06.11.2015. Under the provisions of the above mentioned Annex the registered pledge established for the benefit of Bank Handlowy w Warszawie SA up to the maximum amount of the collateral of PLN 16 million (in words: sixteen million zlotys) on inventories of goods in the Logistics Center in SIechnice will secure, in addition to the repayment of the receivables on account of the credit agreement in the amount of PLN 5 million granted under the Overdraft Agreement No. WRO/KB/0092/05 of 14 November 2005, as amended, the repayment of the receivables on account of the credit agreement in the amount of PLN 10 million granted under the Revolving Credit Agreement No. BDK/KR-O/000057194/0029/13 of 5 April 2013, as amended, also the repayment of the receivables under the Bank Guarantee, referred to above.
The Company will inform of the extension of the scope of the collateral for the registered pledge, referred to above, in a separate current report which will be announced to the public immediately after receiving the court’s decision in this respect.
In total, all agreements concluded between TIM SA and Bank Handlowy w Warszawie SA within the last twelve months exceed the amount equivalent to 10% of the Issuer’s equity.

 
SIGNATURES OF PERSONS REPRESENTING THE COMPANY

2015-11-12, Maciej Posadzy – Member of the Board
2015-11-12, Anna Slobodzian-Pula – Member of the Board

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