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Delivery of information to Bank Millennium shareholder beyond the General Meeting
Current report No 21/2020
In connection with statement made by a shareholder during the Extraordinary Meeting of Bank Millennium S.A. on 3 July 2020, the Management Board of Bank Millennium S.A. informs hereby, that acting in a mode set forth in article 428 § 5 of the commercial companies act it has delivered to shareholder of information in the matter of interest on cash loans and interest on overdue debt.
The contents of the information delivered: “"Bank Millennium S.A. has a portfolio of loan agreements, which includes agreements concluded over many years. The content of the agreements that form the basis of the debt relationships with customers was shaped in accordance with the regulatory requirements existing at the time, in particular providing provisions corresponding to the legally permissible interest rates on regular or past due debt, binding at the time of their concluding. The Bank strictly observes the concluded agreements and performs them in accordance with the wording agreed by the parties and any changes of their conditions may be introduced only upon the parties' consent. The duration of legal relations resulting from a specific group of loan agreements may fall within the period in which the requirements of the legal regime with respect to the maximum permissible debt interest rate were shaped in a differentiated manner. The Bank's compliance with the contractual requirements agreed with the borrower in the given regulatory conditions, however, obliges the Bank to apply the agreed rates regardless of future, also less restrictive restrictions imposed on the lenders. The structure of contractual provisions for a part of the loan portfolio assumes interest rates for loans, in a regular situation, at the maximum level permitted by law, while at the same time providing for interest rates for non-performing loans at the maximum level permitted for debt past due under the provisions of law in force on the date of conclusion of such loan agreements.”.
Article 56 section 1 item 2 of the Act on Public Offering - current and periodic information, § 19 sec. 1 point 12) of the Regulation of the Minister of Finance on current and periodic information to be published by issuers of securities and on conditions under which information required by legal regulations of a third country may be recognised as equivalent.