Brief: Recylex Says Welcomes Paris Commercial Court Decision On Partial Disposal Plan

Campine NV

06/07/2022 17:12

July 6 (Reuters) - Recylex SA  RXPA.PA :
    * WELCOMES DECISION OF PARIS COMMERCIAL COURT TO ADOPT
PARTIAL
DISPOSAL PLAN AND TO ORDER JUDICIAL DISPOSAL OF LEAD AND
POLYPROPYLENE RECYCLING ACTIVITIES OF ITS OPERATING SITES OF
ESCAUDOEUVRES (NORTH) AND OF VILLEFRANCHE-SUR-SAÔNE (RHÔNE) TO
BENEFIT OF CAMPINE NV
    * PURCHASE PRICE OF RELATED ACTIVITIES (INCLUDING
INVENTORIES)
AMOUNTS TO ROUGHLY 4 MILLION OF EUROS
    * FOLLOWING ADOPTION OF THIS PARTIAL DISPOSAL PLAN, RECYLEX
S.A.'S
ACTIVITY WILL BE REDUCED TO THAT OF A HOLDING COMPANY,
CONSISTING OF MANAGEMENT OF HEAVY FINANCIAL AND ENVIRONMENTAL
LIABILITIES AND OF 50% STAKE IN RECYTECH
    * RECYLEX S.A. IS BEING KEPT IN REORGANIZATION PROCEEDING IN
ORDER
TO STUDY A LEGAL SOLUTION FOR RESTRUCTURING ITS DEBT, WHICH IS
NEVERTHELESS VERY UNCERTAIN.
    * BY ORDER OF COMMERCIAL COURT OF PARIS DATED JUNE 30, 2022,
DEADLINE FOR HOLDING SHAREHOLDERS' MEETING TO APPROVE 2021
FINANCIAL STATEMENTS HAS BEEN EXTENDED TO OCTOBER 30, 2022
    * IN THIS CONTEXT, THERE ARE NO PLANS TO RESUME LISTING OF
RECYLEX
S.A. SHARES

Source text for Eikon:  ID:nGNE5c7Znr 
Further company coverage:  RXPA.PA 

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