The Management Board of ORZEŁ BIAŁY S.A. (hereinafter the “Company”, “Issuer”) hereby updates the information in terms of a significant agreement which the Issuer informed of in the current report No. 21/2011 dated 7.07.2011.
On 21.06.2016, an annex was concluded to the agreement dated 30.06.2011 with mBank SA with its registered offices in Warsaw (“Bank”) – the legal successor of BRE Bank SA which the Issuer informed of in the current report number 21/2011 of 7 July 2011. The subject matter of the agreement is to establish a limit for conducting derivative transactions concluded by the Issuer with the Bank.
The subject matter of the Annex is to change the hedging limit conditions for derivative transactions by not having to make a statement on voluntary submission to execution proceedings by the Issuer. The current limit on derivative transactions is PLN 15 million. Other terms of the agreement remain unchanged and do not deviate from market standards used in contracts of such type.
The Management Board also announces that at the time of publication of this report, the value of the above-mentioned agreement does not exceed the significant value.
Legal basis: MFR WSE § 5 Para.1 Cl 3