The Management of ComArch SA informs that on 31 May 2005 it received a signed agreement for a multi-purpose credit line with Fortis Bank Polska SA with the office in Warsaw.
On the basis of the above agreement, Fortis Bank undertakes to grant to the company a credit limit in the amount of PLN 20m. The period of using the credit limit is 1 year, and the collateral is a blank promissory note.
ComArch SA may use the limit in the form of bank guarantees for performance, deposits in tender proceedings, payment, refunding prepayments and letters of credit related to the executed contracts. The value of the company's equity is adopted as the criterion for a significant agreement.
The value of the agreement in PLN thou.: 20,000.00.