The company will use as collateral for the loans the “immovable assets belonging to Argus Constanta, representing up to 100% of the total immovable assets in its patrimony, debt transfer, stocks, movable mortgage on revenue and current balances and on sub-accounts opened by Argus at the financing bank”, the report reads.
Shareholders approved a decision to access factoring facilities in the maximum amount of RON28.85 million guaranteed with receivables stemming from the contracts concluded by the company with several contractual partners.
At the same time, shareholders have ratified a decision of the Board of Directors of June 29, 2022 as regards contracting loans from BRD – Groupe Société Générale within the Rural Invest program. The Board’s decision targets a revolving credit line of RON5 million, for a 36-month period, and an investment loan of RON3.1 million, for a 72-month period, of which a 12-month grace period for capital.
Shareholders also decided to extend a credit line of RON7.5 million for a 12-month period.
UARG shares have gained 5.6% over the last 12 months, amid deals worth RON530,000, as per stock market data.
With a market value of RON68 million, the company is 86.4% held by SIF Oltenia (SIF5.RO) and the remaining shares are distributed among other shareholders.