Brief: INDUS Holding To Limit Financing Of S.M.A. Metalltechnik
23/09/2022 13:17
Sept 23 (Reuters) - INDUS HOLDING AG INHG.DE :
* DECISION TO LIMIT THE FINANCING OF A SUBSIDIARY COMPANY
* BOARD OF MANAGEMENT OF INDUS HOLDING AG ("INDUS") HAS
DECIDED,
WITH APPROVAL OF SUPERVISORY BOARD, TO SIGNIFICANTLY REDUCE AND
PLACE A TIME LIMIT ON INDUS'S FURTHER FINANCIAL COMMITMENT TO
ITS PORTFOLIO COMPANY S.M.A. METALLTECHNIK GMBH & CO. KG
* UNDER CURRENT FRAMEWORK CONDITIONS, FINANCING OF SMA WILL
BE
LIMITED TO FINANCING OF CURRENT BUSINESS OPERATIONS AND WILL
ONLY BE MAINTAINED UNTIL END OF OCTOBER 2022
* EFFECTS OF THIS DECISION ON INDUS HOLDING AG'S
CONSOLIDATED
FINANCIAL STATEMENTS AND FORECAST ARE CURRENTLY BEING REVIEWED
AND WILL BE TAKEN INTO ACCOUNT WHEN PREPARING FINANCIAL
STATEMENTS FOR Q3 OF 2022
* SMA IS CURRENTLY CONDUCTING INTENSIVE NEGOTIATIONS WITH
ITS
MAJOR CUSTOMERS ON AN ADJUSTMENT OF EXISTING SUPPLY CONTRACTS TO
AMENDED CONTRACTUAL BASIS DUE TO OVERALL ECONOMIC ENVIRONMENT
* CONSOLIDATED BOOK VALUES OF SMA GROUP, CONSISTING OF FIXED
AND
CURRENT ASSETS AS WELL AS LIABILITIES AT SITES IN GERMANY,
ROMANIA, SOUTH AFRICA AND CHINA, AMOUNT TO APPROXIMATELY EUR 60
MILLION
* THIS CORRESPONDS TO MAXIMUM AMOUNT OF POSSIBLE NON-CASH
IMPAIRMENTS
Source text for Eikon: ID:nEQ13zDq9a
Further company coverage: INHG.DE
(Gdansk Newsroom)
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