October 17, 2019 / 9:27 AM / a month ago

BRIEF-OEX Receives Pay-Off Letter And Signs Debt Release Agreement

Oct 17 (Reuters) - OEX SA:

* SAID ON WEDNESDAY THAT IT HAS RECEIVED A PAY-OFF LETTER FROM SANTANDER BANK POLSKA, ING BANK SLASKI, SANTANDER FACTORING AND ING COMMERCIAL FINANCE (CREDITORS)

* IN SAID LETTER BANKS HAVE DEFINED THE CONDITIONS APPROVING THE SALE OF 100% STAKE IN ARCHIDOC SHARES

* COMPANY HAS ALSO SIGNED DEBT RELEASE AGREEMENT WITH THE BANKS CONCERNING 37.7 MILLION ZLOTY LOAN AGREEMENT FOR ARCHIDOC AND ARCHIDOC MED

* AFTER REPAYMENT OF A PART OF THE SAID LOAN OBLIGATIONS THE TOTAL DEBT OF THE COMPANY WILL AMOUNT TO 9.0 MILLION ZLOTYS

* ALL THE CREDITORS APPROVALS ARE CONDITIONAL UPON THE PLANNED SALE OF 100% STAKE IN ARCHIDOC

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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