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45. Other disclosures
On 14 April 2011 the Group entered into agreements for the establishment of the following security in respect to the Senior Facilities Agreements entered into on 31 March 2011:
On 18 April 2011 the Group entered into agreements for the establishment of security, inter alia transfers of receivables due to the Company from various debtors, in respect to the Senior Facilities Agreement.
On 20 April 2011 the Company entered into a pledge agreement by which it established a financial and registered pledge on all the shares of Telewizja Polsat S.A. held by the Company, later transformed into a limited liability company.
On 20 June 2011, in connection with the transformation of the Company’s subsidiary – Telewizja Polsat S.A. – into a limited liability company, the Company entered into a pledge agreement which established a financial and registered pledge on all the shares of Telewizja Polsat Sp. z o.o. held by the Company.
On 17 June and 20 June 2011, Telewizja Polsat Sp. z o.o. and its subsidiaries: RS TV S.A., Polsat Media Sp. z o.o., Media-Biznes Sp. z o.o., Nord License AS with its registered office in Norway, Polsat License Ltd. with its registered office in Switzerland and Polsat Futbol Ltd. with its registered office in the United Kingdom entered into agreements and other documents for the establishment in particular of the following security in respect to the repayment of the term and revolving facility loans granted under the Senior Facilities Agreement and the repayment (redemption) of the High Yield Notes (i.e. Senior Notes):
On 18 April 2012 the Company entered into agreements for the establishment of the following security in respect to the repayment of the term and revolving facility loans granted under the Senior Facilities Agreement and the repayment (redemption) of the High Yield Notes (i.e. Senior Notes):
Additionally, on 10 July 2012, Telewizja Polsat Sp. z o.o. entered into agreement establishing registered and financial pledges on all shares in Telewizja Polsat Holdings Sp. z o.o.
On 27 November 2012 Telewizja Polsat Holdings Sp. z o.o. acceded to the Senior Facilities Agreement as the guarantor and the Intercreditor Agreement as a debtor. On 27 November 2012 Telewizja Polsat Holdings Sp. z o.o. entered into agreements and other documents for the establishment in particular of the following security in respect to the repayment of the term and revolving facility loans granted under the Senior Facilities Agreement and the repayment (redemption) of the High Yield Notes (i.e. Senior Notes):
On 27 November 2012 Telewizja Polsat Sp. z o.o. has disposed all shares of Media-Biznes Sp. z o.o. to Telewizja Polsat Holdings Sp. z o.o. On 27 November 2012 Telewizja Polsat Sp. z o.o. (original pledgor) has transferred security interests created on all shares in Media-Biznes Sp. z o.o. to Telewizja Polsat Holdings Sp. z o.o. (new pledgor).
Aside from securities presented above, pursuant to the Indenture, the Notes are guaranteed by each of the Initial Guarantors (the Company, CPTM).
Additionally, there are the following securities established in order to secure the senior secured bonds with the total nominal value of EUR 350 million (not in thousands) maturing in 2018 issued by Cyfrowy Polsat Finance as well as liabilities of the Company and other debtors under the loan agreements:
As at 31 December 2012 the Group had outstanding contractual commitments in relation to purchases of programming assets. The table below presents a maturity analysis for such commitments:
31 December 2012 | 31 December 2011 | |
---|---|---|
within one year | 157,273 | 155,502 |
between 1 to 5 years | 69,541 | 203,377 |
Total | 226,814 | 358,879 |
The table below presents commitments to purchase programming assets from related parties not included in the consolidated financial statements:
31 December 2012 | 31 December 2011 | |
---|---|---|
within one year | 15,913 | 6,702 |
Total | 15,913 | 6,702 |
Total amount of contractual liabilities resulting from agreements on the production and purchasing of the technical equipment was PLN 4,082 as at 31 December 2012 (PLN 10,613 as at 31 December 2011). Total amount of capital commitments resulting from agreements on property improvements was PLN 5,878 as at 31 December 2012 (PLN 3,906 as at 31 December 2011). Additionally the amount of deliveries and services committed to under agreements for the purchases of licences and software as at 31 December 2012 was PLN 405 (PLN 946 as at 31 December 2011).
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