Suresnes, March 26th 2019: Recylex S.A. (Euronext Paris: FR0000120388 - RX) announces today the postponement of the publication of its 2018 financial results and the postponement of the hearings before the Lens Labour Court to October 4th 2019 (Industry section) and to April 14th 2020 (Management section).
- Update on the financing of the German sub-group
Discussions initiated in December 2018 are ongoing with the financial partners of the German sub-group with a view to adapting the financing obtained in December 2016 to the latter's current and forecasted cash generation1.
In this context, in order to allow these discussions to continue, the German sub-group has requested from its financial partners a postponement until April 30th 2019 of the date on which they would be entitled to exercise their right of early termination of the existing financing, which is currently set on March 31st 2019.
In addition, the maturity of the €10 million bridge financing, obtained during the first quarter of 2019 by the German sub-group from Glencore International AG and fully used as of today, was extended to April 30th 2019. This term would be amended in the event of a global agreement with all financial partners.
The 2018 financial statements may only be approved in accordance with the going concern principle once the financial partners' agreement on the adjustment of the financing has been obtained. For this reason, the date of approval and publication of the 2018 financial statements, initially scheduled for March 28th 2019, is postponed to a later date.
Recylex S.A. will keep the market informed of the progress of ongoing discussions, in particular concerning the above-mentioned postponement requested from the German subgroup’s financial partners, as well as the timetable for closing the 2018 financial statements.
- Hearing before the Lens Labour Court
Regarding the claims for damages lodged by 345 former protected and unprotected employees of Metaleurop Nord SAS for prejudice of anxiety and/or contestation of their dismissal, the Industry section of the Lens Labour Court decided to postpone the examination of the claims from former non-managerial employees to its hearing of October 4th 2019 and the Management section decided to postpone the examination of the claims from managerial former employees to its hearing of April 14th 2020, in order to be pleaded or written off.
The summary document of legal proceedings concerning Recylex S.A., updated as of March 26th 2019, is available on the Recylex Group's website: www.recylex.fr - News section - Calendar of legal proceedings.
1 See press releases of December 5th 2018 and February 7th 2019.
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Raw materials from urban mines
The Recylex Group, based in France and Germany, is a European specialist in the recycling of lead, zinc, polypropylene and in the production of high-purity special metals. As a key player in the circular economy and thanks to its long-standing know-how, Recylex achieved consolidated sales of € 365 million in 2018 and employs more than 730 people.
To find out more, please visit our website www.recylex.fr or join @Recylex on Twitter and LinkedIn.
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Press/Investor contact:
Gabriel ZEITLIN
+ 33 (0)1 58 47 29 89
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