PERSONAL DE LA EMPRESA:
4.3. IDENTIFICACIÓN DE LA COMPETENCIA
I. Sureties granted at 31 December 2014
SURETY FOR VALUE [IN '000] VALID UNTIL DESCRIPTION
TESCO (POLSKA)
SP. Z O.O. 15,000 30.06.2015
Surety of Echo Investment S.A. for liabilities of Galeria Olimpia-Projekt Echo-98 Spółka z ograniczoną odpowiedzialnością” SKA and "Veneda- Projekt Echo-97 Spółka z ograniczoną odpowiedzialnością” SKA arising on to the reimbursement to Tesco (Polska) Sp. z o.o. up to the amount of
expenses actually incurred by Tesco (Polska) Sp. z o.o. for the future leased object under lease agreements concluded on 28.10.2010.
BANK POLSKA
KASA OPIEKI S.A. 222,419
will be in force until the conditions specified in the surety agreement are satisfied, but not later than 31.12.2025.
Surety of Echo Investment S.A. for liabilities of Galeria Sudecka - Projekt Echo - 43 spółka z ograniczoną odpowiedzialnością SKA as security for
liabilities under the loan agreement concluded on 19.12..2013, framework agreement of 19.04.2011 and agreement no. 2013/127/DDF
of 17.09.2013. The value of the surety is PLN 222,419 thousand. Part of the surety in EUR currency.
II. Amendments to surety agreements granted by Echo Investment S.A. in 2014:
On 22 January 2014, a surety in the amount of PLN 172,411,560.00 granted by Echo Investment S.A. for Projekt Echo – 105 Sp. z o.o. (the Issuer's subsidiary) for the liabilities of Oxygen – Projekt Echo – 95 Spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary) under the Real Estate Purchase Agreement concluded on 27 November 2013.
On 29 July 2014, Echo Investment S.A. granted a surety in the amount of EUR 42,751,440 and PLN 40,200,000 to Bank Polska Kasa Opieki S.A. as security for the liabilities of Galeria Sudecka - Projekt Echo - 43 spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary) under a loan agreement concluded on 19 December 2013, a framework agreement dated 19 April 2011 and agreement No. 2013/127/DDF concluded on 17 September 2013.
On 19 September 2014, a surety in the amount of EUR 55,562,406.24 granted by Echo Investment S.A. for Westdeutsche Immobilienbank AG for the liabilities of Farrina Investments Sp. z o.o. (the Issuer's subsidiary) under the loan agreement concluded on 5 December 2013.
III. The value of agreements for sureties received by Echo Investment S.A. as at 31 December 2014 is as follows:
- under the lease agreements: PLN 0, EUR 0, USD 0 - under the project implementation: PLN 0, EUR 0, USD 0.
I. Guarantee agreements in force as at 31 December 2014 GUARANTOR VALUE [IN
'000] VALID UNTIL DESCRIPTION
PKO BP SA 2,155 17.05.2016
Security for the remedying of defects and faults for Orbis S.A. under the General Project Implementation
Agreement dated 4 September 2008
PKO BP SA 134 15.03.2015
Security for non-performance of obligations under a promotional lottery organised in CHR Galeria Echo in
Kielce.
PKO BP SA 188 07.05.2015
Security for non-performance of obligations under a promotional lottery organised in CHR Olimpia in
Bełchatów.
PKO BP SA 88 10.08.2015
Security for non-performance of obligations under a promotional lottery organised in CHR Olimpia in
Bełchatów.
PKO BP SA 101 29.04.2015
Security for non-performance of obligations under a promotional lottery organised in CHR Galeria Echo in
Kielce.
PKO BP SA 151 31.08.2015
Security for non-performance of obligations under a promotional lottery organised in CHR Galeria Echo in
Kielce.
Echo Investment S.A. 10,130
the date of release of the leased premises, but not later than
30.06.2015
Security of liabilities to BNY MELLON (Poland) Sp. z o.o. arising under the lease agreement dated 19 November
2012. Guarantee issued in EUR.
Echo Investment S.A. 21,312 02.07.2020
Security of liabilities in the event of improper performance of the final agreement for sale of an office
building Aquarius Business House in Wroclaw, stage I. Guarantee issued in EUR.
Echo Investment S.A. 2,7300 the date of the project completion but not later than 28 February 2016
Security for exceeded costs, debt service liabilities and construction management support during the implementation of Park Rozwoju project, stage I, in
Warsaw, to Bank Zachodni WBK S.A.
Echo Investment S.A. 38,361 30.07.2021
Security of liabilities in the event of improper performance of the final agreement for sale of an office
building Aquarius Business House in Wroclaw, stage II. Guarantee issued in EUR.
Echo Investment S.A. 30,227 30.06.2015
Security for exceeded implementation costs of A4 Business Park project, stages I and II, in Katowice,
Guarantee issued in EUR. Echo Investment S.A. 13,148 the Conversion Date, but not later than 31 December 2025.
Security for exceeded costs of development of CHR Galeria Sudecka in Jelenia Góra and for the coverage
of absent own funds, to Bank Pekao Kasa Opieki S.A.
Echo Investment S.A. 255,738 the Conversion Date, but not later
than 06.02.2018.
Security for exceeded costs, coverage of absent own funds, liabilities arising under debt service and hedging agreements, construction management support during the implementation of an office building Q22 project in Warsaw, to Bank Zachodni WBK S.A. and PKO BP S.A. Echo Investment S.A. 34,974 within 12 months after the Construction Completion
Security for exceeded costs of the implementation of Tryton Business House office building project, stage I, in
Gdańsk, to HSBC BANK plc,
Echo Investment S.A. 27,106 within 12 months after the
Construction Completion
Security for exceeded costs of the implementation of Opolska Business Park project, stage I, in Kraków, to
HSBC BANK plc,
II. Amendments to guarantee agreements granted by Echo Investment S.A. in 2014:
Part of the guarantee in the amount of EUR 4,000,000.00 issued by Echo Investment S.A. as security for payment of claims arising from possible termination of the preliminary conditional agreement for the sale of the Aquarius Business House office
odpowiedzialnością SKA (the Issuer's subsidiary) and Skua Sp. z o.o., expired on 31 January 2014.
On 31 January 2014 Echo Investment S.A. granted a guarantee as security for proper performance of the final agreement for the sale of the Aquarius Business House office building in Wrocław, stage II, concluded between Projekt Echo – 104 Sp. z o.o. (the Issuer's subsidiary) and Skua Sp. z o.o. The total guarantee amount is EUR 9,000,000.00. The guarantee is valid until 30 July 2021.
On 7 March 2014, Bank PKO BP SA issued a bank guarantee to the Customs Chamber in Kielce as security for non- performance of obligations under a promotional lottery organised in CHR Olimpia in Bełchatów. The guarantee amounts to PLN 188,332.50. The guarantee is valid until 7 May 2015.
On 14 March 2014, Bank PKO BP SA issued a bank guarantee to the Customs Chamber in Kielce as security for non- performance of obligations under a promotional lottery organised in CHR Galeria Echo in Kielce. The guarantee amounts to PLN 134,460.00. The guarantee is valid until 15 March 2015.
On 31 March 2014, Echo Investment S.A. granted a guarantee to BNP Paribas Bank Polska S.A. to secure exceeded costs of the implementation of A Business Park project, stages I and II in Katowice incurred by the Borrower -A4 Business Park – "Iris Capital" Spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary). The guarantee amounts to EUR 3,545,886.40. The guarantee is valid until 30 June 2015.
A guarantee in the amount of PLN 350,000 issued by PKO BP SA as security for non-performance of obligations to Dalkia Warszawa SA under Agreement No. HPN-HK/M-10-0198-2/PN-O/066/13 concluded on 7 June 2013 by Projekt Echo-67 Spółka z ograniczoną odpowiedzialnością Spółka komandytowa (the Issuer's subsidiary), expired on 31 May 2014.
A guarantee in the amount of PLN 170,000 issued by PKO BP SA as security for non-performance of obligations to Dalkia Warszawa SA under Agreement No. HPN-HK/M-10-0198/UK-O/077/13 concluded on 21 June 2013 by Echo Investment SA, expired on 31 May 2014.
On 3 June 2014, an agreement amending the guarantee agreement concluded on 31 March 2014 Echo Investment S.A. between BNP Paribas Bank Polska S.A. and A4 Business Park – "Iris Capital” Spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary) to secure the exceeded costs of the implementation of A Business Park project, stages I and II, in Katowice. The guarantee amount was increased to EUR 7,091,772.80.
On 16 June 2014. Bank PKO BP SA issued an advance payment bank guarantee to "Leroy - Merlin Inwestycje" Sp. z o.o. in connection with the preliminary agreement for the sale of real property concluded on 9 April 2014 by Echo Investment SA. The guarantee amounts to PLN 1,000,000.00. The guarantee is valid until 31 December 2014.
A guarantee in the amount of PLN 30,000,000.00 issued by PKO BP SA as security for default under the agreement and annex 1 to the lease agreement dated 29 November 2002 concluded on 21 October 2013 by Projekt Echo Galeria Kielce - Magellan West spółka z ograniczoną odpowiedzialnością – S.K.A. (the Issuer's subsidiary).
On 9 July 2014, Bank PKO BP SA issued a bank guarantee to the Customs Chamber in Kielce as security for default under a promotional lottery organised in CHR Galeria Echo in Kielce. The guarantee amounts to PLN 100,770.00. The guarantee is valid until 29 April 2015.
On 29 July 2014, Echo Investment S.A. issued a guarantee to Bank Polska Kasa Opieki S.A. as security for the exceeded costs of the expansion of CHR Galeria Sudecka in Jelenia Góra and for the coverage of absent own funds by Galeria Sudecka - Projekt Echo - 43 spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary). The guarantee amounts to PLN 13,148,420. The gurantee will be valid until the Conversion Date, but in no event later than 31 December 2025.
On 31 July 2014, Bank PKO BP SA issued a bank guarantee to the Customs Chamber in Łódź as security for default under a promotional lottery organised in CHR Olimpia in Bełchatów. The guarantee amounts to PLN 88,466.00. The guarantee is valid until 10 August 2015.
On 11 August 2014, Bank PKO BP SA issued a bank guarantee to the Customs Chamber in Kielce as security for default under a promotional lottery organised in CHR Galeria Echo in Kielce. The guarantee amounts to PLN 151,250.00. The guarantee is valid until 31 August 2015.
A guarantee in the amount of EUR 36,995,00 issued by Echo Investment S.A. as security for default to ImmoPoland Sp. z o.o. under the lease agreement of 28 August 2009, expired on 31 October 2014.
On 31 October 2014, a guarantee issued by Echo Investment S.A. to Bank Polska Kasa Opieki S.A. as security for the exceeded costs of construction of CHR Amber in Kalisz, for debt service liabilities and for the coverage of absent own funds by Echo-Galeria Amber Spółka z ograniczoną odpowiedzialnością S.K.A, expired on 31 October 2014. The guarantee totals PLN 29,670.00 and EUR 2,300,000.00.
Sp. z o.o. in connection with the preliminary agreement for the sale of real property concluded on 9 April 2014, expired on 31 December 2014.
On 18 November 2014, Echo Investment S.A. issued a guarantee to Bank Zachodni WBK S.A. and PKO BP S.A. as security for the exceeded costs, coverage of absent own funds, debt service liabilities and construction management support during the construction of an office building Q22 in Warsaw by the Borrower, i.e. Development Park – Projekt Echo – 70 spółka z ograniczoną odpowiedzialnością (the Issuer's subsidiary). The total guarantee amount is EUR 60,000,000.00. The guarantee is valid until the Conversion Date, but not later than 06.02.2018.
On 22 December 2014, Echo Investment S.A. issued a guarantee to HSBC Bank plc as security for the exceeded costs of the construction of an office building Tryton Business House in Gdańsk, by Projekt Echo – 102 Sp. z o.o. (the Issuer's subsidiary), The guarantee amounts to PLN 34974200.00. The guarantee will be valid within 12 months after the Construction Completion. On 22 December 2014, Echo Investment S.A. issued a guarantee to HSBC Bank plc as security for the exceeded costs of the construction of an office building Tryton Business House in Gdańsk, by Echo-Opolska Business Park Spółka z ograniczoną odpowiedzialnością SKA (the Issuer's subsidiary), The guarantee amounts to PLN 27,106,000.00. The guarantee will be valid within 12 months after the Construction Completion.
III. The value of guarantees received by the Company as at 31 December 2014 is as follows:
- under the lease agreement: PLN 0, EUR 18.99, USD 0
- under the project implementation agreements: PLN 17.93, EUR 62.08, USD 0.
12. IN THE CASE OF ISSUE OF SECURITIES DURING THE REPORTING PERIOD – DESCRIPTION OF USE OF THE