Jamnica and Ledo Pledged Rights to Trademarks in Favor of Madison Pacific Trust Limited

Jamnica and Ledo, two companies within the Agrokor group, announced on Monday via the Zagreb Stock Exchange that they entered into an agreement at the end of last week to establish a pledge on certain trademarks of these companies, to secure a loan that Agrokor received in June of this year.

Jamnica and Ledo stated in their announcements that on Friday, September 15, an agreement was made to establish a pledge on certain trademarks of these companies between Agrokor and its affiliated companies, including these two companies, and Madison Pacific Trust Limited.

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This agreement, as stated in the announcements, was made “for the purpose of establishing and perfecting the security” in favor of Madison Pacific Trust Limited “to secure current and future claims owed by each debtor to the secured parties, as defined in accordance with the super-priority loan agreement dated June 8 of this year.” The funds secured by this loan have enabled the companies to stabilize their operations, resolve liquidity issues, and finance inventory and preparations for the season, according to Janica and Ledo.

According to the announcements from these two companies, Jamnica has pledged rights to a total of five figurative trademarks (three from Jamnica and two from Jane), while Ledo has pledged four of them (one verbal and three figurative trademarks).

Financial Arrangement

In any case, Agrokor reported on June 8 that a financial arrangement agreement was signed for an amount of 480 million euros. The loan was approved for 15 months, with an annual interest rate of 4 percent applied to the principal or 3.8 percent in cash, payable once a year.

The loan was secured by bondholders led by Knighthead Capital Management, and the collateral for the loan is all material and immaterial assets that have not been pledged so far.

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At the beginning of September, companies within the Agrokor group reported entering into an agreement to establish a pledge on their real estate that had not been pledged so far, based on the loan that Agrokor received in early June for an amount of 480 million euros.

Thus, Jamnica, Ledo, Zvijezda, Belje, Vupik, and PIK Vinkovci reported at the beginning of September that they had entered into an agreement to establish a pledge on real estate between Agrokor, its affiliated companies, and Madison Pacific Trust Limited.

Belje on the Change of Procurator

Through the Zagreb Stock Exchange, the company Belje announced today that the revocation of the procuration granted to Božo Čerkez has been registered at the Commercial Court in Osijek, and that Tatjana Ćuso from Vukovar has been registered as the new procurator.

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The procurator can represent the company individually and without limitation in concluding contracts and undertaking other legal actions and in all proceedings before administrative and other state authorities, institutions with public law powers, and state and selected courts. However, without special authorization, the procurator cannot alienate or encumber the company’s real estate, make statements, or undertake legal and any other actions that initiate bankruptcy or any other proceedings leading to the cessation of the company, as noted in Belje’s announcement.

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