Disclosure of information under Art.4 of the Bulgarain Law on the Public Offering of Securties
18-12-2013
Intercapital Property Development ADSIC, a company incorporated and conducting business in the Republic of Bulgaria, registered with the Commercial Registry by the Bulgarian Registration Agency under number EIK 131397743, having its seat and registered address in Sofia, 7a Aksakov Street, floor 4 (hereinafter referred to as "ICPD"), in compliance with Art.148b of the Bulgarian Law on the Public Offering of Securities informs the public about the following:
on 17 December 2013 the Company has conculded a contract with Bulgaria Leasing EAD for financial leasing of real estate subject to which is the investment project “Grand Borovets", property of Intercapital Property Development ADSIC. The lease price of the contract is EUR 2 927 724.36, excl. VAT with a 2-year period for the lease payments or 24 monthly lease installments, with grace period of 6 months and annual interest of 9%.
On 18th December 2013, ICPD has received a notification from DSK Bank EAD informing that all receivables of the bank from ICPD pursuant to contracts for credit â„– 716/18.09.2008 and 717/18.09.2008 and all related anexes up to 17th December 2013 and the receivales of the bank pursuant to contracts for guarantee with Marina Cape Management EOOD, Marina Cape Tours EOOD and Velichko Stoichev Klingov are transferred with to Grand Borovets 2013 EOOD with a contract for cession.
On 18th December 2013, ICPD has paid down part of its liabilities towards DSK Bank EAD pursuant to contracts for credit â„– 716/18.09.2008 and 717/18.09.2008 in the amount of BGN 5 350 000 towards the new lender Grand Borovets 2013 EOOD.
The new lender has suspended all enforcement actions against ICPD in connection with the above credit agreements, while in the meantime the two companies have begun talks to renegotiate the terms for how to implement the remaining amount of the obligation of ICPD.
Legal basis: § 17 Section 4 of the Alternative Trading System Rules NewConnect
on 17 December 2013 the Company has conculded a contract with Bulgaria Leasing EAD for financial leasing of real estate subject to which is the investment project “Grand Borovets", property of Intercapital Property Development ADSIC. The lease price of the contract is EUR 2 927 724.36, excl. VAT with a 2-year period for the lease payments or 24 monthly lease installments, with grace period of 6 months and annual interest of 9%.
On 18th December 2013, ICPD has received a notification from DSK Bank EAD informing that all receivables of the bank from ICPD pursuant to contracts for credit â„– 716/18.09.2008 and 717/18.09.2008 and all related anexes up to 17th December 2013 and the receivales of the bank pursuant to contracts for guarantee with Marina Cape Management EOOD, Marina Cape Tours EOOD and Velichko Stoichev Klingov are transferred with to Grand Borovets 2013 EOOD with a contract for cession.
On 18th December 2013, ICPD has paid down part of its liabilities towards DSK Bank EAD pursuant to contracts for credit â„– 716/18.09.2008 and 717/18.09.2008 in the amount of BGN 5 350 000 towards the new lender Grand Borovets 2013 EOOD.
The new lender has suspended all enforcement actions against ICPD in connection with the above credit agreements, while in the meantime the two companies have begun talks to renegotiate the terms for how to implement the remaining amount of the obligation of ICPD.
Legal basis: § 17 Section 4 of the Alternative Trading System Rules NewConnect
