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") presents announcement, regarding the termination of the insurance policy covering the bond loan, issued by the Company.
With the present the Company would like to inform the public of the following: with letter with No. 2989/6 dated 03.10.2017 received by ICPD ADSIC, Insurance Company EUROINS AD in the capacity of insurer under insurance policy, concluded with regard to the provision of collateral to the bondholders of the bond issue, issued by ICPD ADSIC, hereby informs Investbank AD in the capacity a trustee of the bondholders acting as an insured person and secured creditor of the receivables of all the bondholders, and ICPD ADSIC, that starting from 00.00 h of 03.10.2017 the insurer terminates the insurance agreement with insurance policy No. 29-0000-1753 dated 11.02.2015.
The notification states that with regard to an application filed by Investbank AD with No 2989/4 dated 28.09.2017 for payment of insurance indemnity under the aforementioned insurance policy for a total amount of EUR 157 609.59 (one hundred and fifty seven thousand six hundred nine euro 59 eurocents) Insurance Company EUROINS AD shall exercise its right under Art. 364, para. 4 of the Insurance Code in the event of a terminated insurance policy and will apply a 50% (fifty percent) reduction of the indemnity for an insurance event occurring prior to the date of termination of the insurance agreement.
Legal Basis: § 17 Section 4 of the Alternative Trading System Rules NewConnect
Osoby reprezentujące spółkę:
Milen Bozhilov - Investor relations director