Travelplanet pl : Current report 3/2016Repayment of the revolving credit agreement with Bank Polska Kasa Opieki SA

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Report number: 3/2016
2016-01-28

Management Board of Travelplanet.pl SA (The Issuer), in accordance with §5 sec. 1 pt. 5 of the Regulation of the Minister of Finance of February 19th, 2009 on current and periodic information published by issuers of securities and conditions for recognizing as equivalent information required by the laws of a non-member state (RMF), announces signing, by mutual agreement of the parties, the agreement with the Bank Polska Kasa Opieki SA with its registered office in Warsaw at ul. Grzybowska 53/57, represented by the Lower Silesian Corporate Centre based in Wroclaw at ul. Ofiar Oświęcimskch 36 (Bank) relating to the early repayment of a revolving overdraft facility in the amount of 8,000,000.00 zł (say: eight million zlotys), together with accrued interest, referred to in the Current Report No. 2/2015 dated March 31, 2015 .

The parties decided that the revolving credit agreement, referred to above will expire on January 31, 2016.

Credit repayment is a results of concluded on January 27, 2016 the loan agreement with Invia.cz, a.s. headquartered in Prague (Czech Republic), St. Senovážné náměstí 1463/5 referred to in the Current Report No. 1/2016 dated on January 27, 2016, for the purpose to repay the loan at the Bank.

The Issuer does not predict negative financial effects resulting from the termination of the Agreement for the Company, its subsidiaries, or a group of related entities. In the Issuer's opinion optimization of the structure of external financing, will reduce its costs and increase profitability of the Company.

The agreement has been considered as a significant due to the fact that the value of the agreement at the time of its termination exceeds 10% of the revenues from sales of the Issuer's capital group for the last four quarters.

Legal basis

Art. 56 section 1 point 2 of the Act on the Public Offering