Elektrim-Megadex secures several debt and loan agreements over ZE PAK

The company signed a pledge, whereby it promises to will pay part of the debts by mid-year, partially in cash and partially in real-estate. "I cannot reveal any details, but the agreement was signed, which means that Rafako will not create reserves for our debts," said Tomasz Holc, president of Elektrim-Megadex. According to Parkiet, the figure stands at zł.8 million. Three loan committees, gathering among others EBRD, EDC and WestLB, recommended the granting of a loan to conclude the investment in ZE PAK. Two others committees, which comprise of BPH and Pekao will decide next week, while BRE Bank will make its decision by the end of the month. On January 24, ZE PAK's general shareholders meeting will vote whether to issue 9.7 million shares to be taken over by Polsat, which is the largest shareholder in Elektrim. If the decision is positive then the investment could commence again in April. (Parkiet, p. 1) M.M.