Current report 14/2020
June 30th, 2020
Confidential information
“Amendment to a significant agreement”
The Management Board of CI Games S.A. with a registered office in Warsaw (“the Company”) hereby informs that on June 29th, 2020, the Company concluded annex 2 to the revolving loan agreement concluded with mBank S.A. (“the Annex”), of which the Company informed in its current report 1/2018 of January 9th, 2018 (“the Loan Agreement”). The revolving loan agreement has been concluded for a limited period until March 31st, 20201.
The Annex concerns granting of a revolving loan up to the amount of PLN 15,000,000.00 (in words: fifteen million zlotys) for financing of new computer games released by the Company, including the Sniper Ghost Warrior Contracts 2 and Lords of the Fallen 2.
The loan interest rate is based on 1-month WIBOR, increased by the Bank margin of 2.7 p.p.
The collateral for payment of the loan on behalf of the Bank consists of:
- a blank promissory note issued by the Borrower, with a promissory note agreement of the Borrower of 01.09.2018;
- global transfer on behalf of the Bank of receivables based on the agreement for global transfer of receivables no. 43/021/17 of 01.09.2018 as amended;
- registered pledge for 15,000,000 (in words: fifteen million) shares of the Borrower, constituting the property of Marek Lech Tymiński, on the basis of the pledge agreement no. 43/006/17 of 01.09.2018;
- financial pledge on accounts of the Client maintained by the Bank on the basis of the financial pledge agreement of 06.26.2020;
- statement of submission to execution on the basis of 777 § 1 clause 5 of the Code of Civil Procedure, in form of a notarial deed, up to the amount of PLN 22,500,000.00 (in words: twenty-two million five hundred thousand zlotys and 00/100).
Throughout the term of the Loan Agreement, Mr. Marek Tymiński is obliged to hold at least 52,663,570 shares in the share capital of the Company, carrying voting rights to 32,52% of all votes in the shareholding structure of the Company.
Other terms of the loan agreement do not depart from terms and conditions customarily applicable to agreements of this type.
The current value of liabilities of the Company to mBank S.A. due to the Loan Agreement as of June 29th, 2020 is PLN 12,500,000.00 million.
Legal basis: art. 17 section 1 in association with art. 7 section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16th, 2014 on market abuse (MAR).
Marek Tymiński – President of the Management Board
Monika Rumianek – Member of the Management Board
