Conclusion of an appendix to the Multi-purpose Credit Line Agreement and the Revolving Loan Agreement with BNP Paribas Bank Polska S.A.

Date  of issue: 2012-05-25

Legal basis: Art. 56 Clause 1 Item 2 of the Offering Act - current and periodic information.

SUBJECT: Conclusion of an appendix to the Multi-purpose Credit Line Agreement and the Revolving Loan Agreement with BNP Paribas Bank Polska S.A.

CONTENT OF THE REPORT:
The Management Board of Izostal S.A. (Company), with reference to the current report no. 39/2011 informs that on May 24, 2012 the Company concluded an appendix to the Multi-Purpose Credit Line agreement concluded with  BNP Paribas Bank Polska S.A. seated in Warsaw on May 27, 2011, for the amount of PLN 5,000,000.00. With this appendix the current credit line availability date is postponed till May 23, 2013. The other significant terms and conditions of the loan did not change.

On May 24, 2012 Izostal S.A. (Company) concluded a revolving loan agreement with BNP Paribas Bank Polska S.A. (Bank) seated in Warsaw.

Under this agreement the Bank awarded a working capital loan to the company (in the amount of EUR  3,000,000.00  (that is PLN 13,099,500.00 after conversion according to the mean exchange rate of the National Bank of Poland as on the day of signing the agreement).

The loan is valid till  May 21, 2022, and the first loan availability period ends on May 19, 2013.

The basic legal security of the loan involves the general assignment of trade amounts due to the Company from selected Company debtors.

The loan bears an interest rate based on  EURIBOR 1M plus Bank’s margin.

Conclusion of the revolving loan agreement reflects the needs of the company related to its import activity, and in a situation of unstable financial markets it lets the company be more flexible in the repayment of currency obligations.

The other financial conditions of the loan do not differ from the ones used commonly for such agreements).

The Company considers this Agreement a significant one as its value exceeds 10% of equity of Izostal S.A.

Specific legal basis: §5 clause 1 item 3 of the Ordinance of the Minister of Finance of February 19, 2009 on current and periodic information disclosed by the issuers of commercial papers and the conditions for recognizing as equivalent the information required by the laws of a non-member state (Journal of Laws No. 33, item 259 as amended).
 

SIGNATURES OF PERSONS REPRESENTING THE COMPANY:
Management Board President, Marek Mazurek 2012-05-25
Management Board Vice President, Jacek Podwiński 2012-05-25

INFORMATION ON THE ENTITY:
Full name of the issuer: IZOSTAL SPÓŁKA AKCYJNA
Abbreviated name of the issuer:  IZOSTAL S.A
Sector based on the classification of Warsaw Stock Exchange:  Other industry
Address: 47-120 Zawadzkie Polna 3
Telephone: (77) 405 65 00
Fax: (77) 405 65 01
e-mail:info@izostal.com.pl
www.izostal.com.pl
VAT No. [NIP]:756-00-10-641
Statistical No. [REGON]: 530884678