Brief: Componenta Corporation To End Restructuring Programme Prematurely

Componenta Oyj

25/02/2021 12:35

Feb 25 (Reuters) - Componenta Corp  CTH1V.HE :
    * COMPONENTA CORPORATION TO END RESTRUCTURING PROGRAMME
PREMATURELY
    * PAYMENT PROGRAMME OF RESTRUCTURING PROGRAMME COMMENCED IN
MAY
2019 AND WILL END IN NOVEMBER 2023
    * PROPOSED TO ITS RESTRUCTURING CREDITORS REPAYMENT OF 90
PERCENT
OF UNPAID REDUCED RESTRUCTURING DEBT
    * COMPANY'S PROPOSAL HAS BEEN ACCEPTED BY RESTRUCTURING
CREDITORS
REPRESENTING OVER 99 PERCENT OF ALL UNSECURED RESTRUCTURING
DEBTS OF COMPANY.
    * REPAYMENT OF RESTRUCTURING DEBTS IS EXPECTED TO TAKE PLACE
DURING MARCH
    * NET PROFIT OF APPROXIMATELY EUR 0.7 MILLION WILL BE
REALISED IN
CONNECTION WITH REPAYMENT
    * RESTRUCTURING DEBTS WITH A BOOK VALUE OF EUR 6.6 MILLION
SHALL
BE REPAID WITH EUR 5.9 MILLION
    * PREMATURE ENDING OF COMPANY'S RESTRUCTURING PROGRAMME WILL
NOT
AFFECT RESTRUCTURING PROGRAMME OF COMPONENTA CASTINGS OY

Source text for Eikon:  ID:nWkr8krlZK 
Further company coverage:  CTH1V.HE 

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