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TMK - ARTROM S.A. - ART

Current Report 5 October 2017

Release Date: 10/5/2017 12:21:13 PM

IRIS Code: FFD7C

102/355

from

05.10.2017

 

Current report

In accordance with Law no.297 / 2004 on capital markets and Regulation No. 1/2006 of NSC

 

Date of report: 05 October 2017

Name of the issuing entity: TMK-ARTROM S.A.

Registered office: Slatina, Draganesti Street, no. 30, Olt County

Telephone / fax number: +40249436862/ +40249434330

Tax Identification Number: RO 1510210

Registered in the Trade Register under no.: J28/9/1991

Subscribed and paid up share capital: 291.587.538,34 RON

Regulated market where the issued securities are transacted: Bucharest Stock Exchange - STANDARD Category (market symbol ART)

 

Important event to be reported

On 03.10.2017, the Board of Directors of TMK-ARTROM S.A approved the following:

 

 Point (1). Changing the credit agreement no. 1624/08.11.2016 („BANCPOST Facility”) concluded by TMK-Artrom, as a borrower, TMK-RESITA as Fideiusor, with Bancpost SA (“BANCPOST”), as creditor, in amount of 10.000.000 EUR („The amount of BANCPOST Facility”) for financing the circulating capital, as follows:

-          Changing the type and the object of the facility as follows:

o   1.1. sublimit 1: overdraft; to provide working capital to cover the financial needs of the current business of the Borrower;

o   1.2. sublimit 2: issuing commitments (i.e. letters of guarantee and / or letters of credit), whose validity does not exceed the Final Maturity Date.”

-          Changing the approved facility limit by increasing it from EUR 10,000,000, EUR 20,000,000, EUR 00, the amount of the facility could be used as follows:

o   Sublimit 1- overdraft : maximum 20.000.000,00 EUR;

o    Sublimit 2 (issuing commitments) up to 20.000.000,00 EUR.

 

 

Point (2). In order to insure the full reimbursement and fulfillment by the Company of its obligations ( on the entire duration of their existence) from BANCPOST Facility, were constituted the following guarantees in the favor of BANCPOST:

 

i.                     Corporate guarantee letter issued by PAO TMK amended for the new value of the facility;

 

ii.                   Security mortgage on the balances of current and future accounts opened by the Company on BANCPOST („Security mortgage on accounts BANCPOST””)

 

iii.                  Fideiusiune (personal guarantee) issued by TMK Resita S.A.

 

 

CHIEF EXECUTIVE OFFICER

ADRIAN POPESCU

 



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