Conclusion of an annex to the framework agreement no. 11/010/17/Z/PX with mBank SA

The Management Board of Answear.com SA (hereinafter: "the Company") informs that on 15th June 2022 the Company concluded an Annex in a form of a unified text to the Framework Agreement no. 11/010/17/Z/PX with mBank SA with its registered seat in Warsaw (hereinafter: "Annex"), on the basis of which mBank prolonged and increased the line for financing the current activity of the Company.

Pursuant to the Annex, mBank will increase the line for financing the current operations of the Company from the existing PLN 44,000,000 to PLN 80,000,000.

Within this line, the Company may use the following Products:

- A guarantee of timely payments up to PLN 15,000,000

- Overdraft facility up to PLN 20,000,000

- Revolving credit facility up to PLN 45,000,000

The line is available until 20 October 2023.

The collateral for mBank's has not changed and consists of:

 

1. Blank promissory note issued by the Company, accompanied by the Borrower's promissory note declaration

2. Assignment to the Bank of receivables due to the Company from PayU S.A. under the agreement for Payment Card Payment Services and Electronic Payment Services

3. Registered pledge on securities deposited on the investment account in mBank SA with the registered office in Warsaw - 6,593,973 shares, issued by VRG SA (formerly VISTULA GROUP SA) with code PLVSTLA00011, owned by Forum X FIZ

4. registered pledge on the trademark answear, owned by the Company.

The Company will also provide mBank with a statement on submission to enforcement in accordance with Article 777 § 1.5 of the Code of Civil Procedure, in the form of a notarial deed, up to the amount of PLN 120,000,000 specifying the deadline for filing an application for an enforcement clause until 30 June 2025.