Attached files
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EX-10 - TOR MINERALS INTERNATIONAL INC | exhibit10-1rhb.htm |
UNITED STATES |
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_________________________________
_________________________________ |
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TOR Minerals International,
Inc.
Delaware
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0-17321 |
74-2081929 |
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(361) 883-5591
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Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see
General Instruction A.2.
below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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1
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On February 21, 2017, our subsidiary, TOR Minerals Malaysia (“TMM”), amended its short term banking facility with RHB Bank Berhad (the (“RHB”) to extend the maturity date to August 11, 2017. The RHB facility includes the following
Facility |
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Total Limit (RM) |
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USD Equivalent |
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Uncommitted Multi-Trade Line (MTL) |
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RM 3,500,000-00 |
$ |
785,158 |
Letter of Credit (LC)/Shipping Guarantee (SG)/ |
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Bankers Acceptance (BA)/Trust Receipt (TR)/ |
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Bill Purchased (BP)/ |
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Export Credit Refinancing (ECR)/ |
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Foreign Currency Trade Financing (FCTF)/ |
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Promissory Notes (PN) |
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Bank Guarantee (BG) |
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RM 1,200,000-00 |
$ |
269,197 |
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Foreign Exchange Contract Line (FECL) |
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RM 2,500,000-00 |
$ |
560,827 |
(10% risk) |
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TOTAL |
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RM 7,200,000-00 |
$ |
1,615,183 |
No funds were outstanding on the RHB facility at December 31, 2016.
ITEM 2.03
CREATION OF A DIRECT FINANCIAL
OBLIGATION OR AN OBLIGATION UNDER
AN OFF-BALANCE SHEET ARRANGEMENT OF A
REGISTRANT.
The information contained in Item 1.01 of this report is incorporated herein by reference.
2
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) |
Exhibits. |
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Exhibit |
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Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. |
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TOR MINERALS INTERNATIONAL, INC. |
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Date: February 22, 2017 |
/s/ BARBARA RUSSELL |
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Barbara Russell |
EXHIBIT INDEX
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Exhibit |
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