MIDAS SA Current report No. 32/2015 Drawn up on: 11 September 2015
Abbreviated name of the issuer: MIDAS SA Subject: Change of record in the pledge register.
Legal basis: Article 56 par. 1 pt. 2 of the Public Offering Act - current and periodic information
Content:
Further to the Current Report No. 33/2014 concerning a record having been made in the Pledge Register, the Management Board of Midas S.A. ('Company') informs that on 10 September 2015 it received the decision of the District Court for the City of Warsaw in Warsaw, Division XI Commercial
- Register of Pledges ('Court', of 3 September 2015 on a change in the registered pledge established for Bank Polska Kasa Opieki S.A. ('Bank'), constituting a collateral for the investment credit, referred to in the Current Report No. 19/2015 ('Credit'), on 221,000 shares of nominal value PLN 50 each, held by the Company in Aero 2 Sp. z o.o. ('Aero2') and constituting 99.5 per cent of interest in Aero2's share capital, forming the collateral for the liability arising under the Credit. The change consists in the increase of the maximum collateral amount from PLN 300 million to PLN 525 million.
Furthermore, the Management Board informs that there was also a change in the registered pledge established for the Bank, constituting a collateral for the Credit, on 1,000 shares of nominal value PLN 50 each, held by the Company in Aero2 and constituting 0.5 per cent of interest in Aero2's share capital. The change consists in the increase of the maximum collateral amount from PLN 300 million to PLN 525 million.
The value of record of 100 per cent interest in Aero2 as at 30 June 2015 was PLN 787 million. Raising the a/m total collaterals results from the provisions of the annex to the collateral agreements to the credit agreement with the Bank, as described in the Current Report No. 29/2015.
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