Conclusion of a reverse factoring agreement with PKO Faktoring SA

The Management Board of Answear.com SA (hereinafter: "the Company") informs that on 10th of November 2021 the Company concluded the reverse factoring agreement with PKO Faktoring SA with its seat in Warsaw (hereinafter: "the Agreement"), based of which PKO Faktoring will provide the Company with services of purchasing on its own name and on its own account undisputed supplier's receivables of the Company within the financing limit in the amount of PLN 10.000.000,00 (in words: ten million PLN).

The agreement was concluded for a period of 24 months.

Factoring agreement is secured by:

a) power of attorney to the Company's bank account provided by PKO Bank Polski SA

 

b) blank bill of exchange accompanied with a bill of exchange declaration

 

c) BGK guarantee up to the amount of PLN 8.000.000,00 for the period of 27 months, secured by a blank bill of exchange accompanied with a bill of exchange declaration