Optimus sells subsidiary and escapes financial tangle

Optimus has signed an appendix to its loan agreement with BPH PBK which prolongs the payment of the company's debt of zł. 15 million until the end of June 2004. "It is an annual credit line in our current account. Before that, we had to sign appropriate agreements every three months," said Optimus President Andrzej Widerszpil. From Optimus's Q1 report it transpired that the company could encounter some problems with purchasing its own bonds worth zł. 20 million from its subsidiary, Optimus IC, which should have been settled by the end of last month. The company managed a cleaver footmove, it sold Optimus IC to BRE Bank for zł. 33 million, on which it earned zł. 14 million, and solved both problems. (Parkiet, p. 4) K.Z.