Brief: REC Silicon Continues Discussions With Hanwha, EGM To Elect New Board

Rec Silicon ASA

16/07/2025 07:08

July 16 (Reuters) - REC Silicon ASA RECSI.OL:

FURTHER UPDATE ON THE FINANCIAL SITUATION

NEEDS AT LEAST USD 6.5 MILLION IN LATTER PART OF JULY TO CONTINUE ITS OPERATIONS

CONTINUES TO ACTIVELY MANAGE AND MONITOR ITS CASH POSITION

THERE ARE NO REALISTIC OR AVAILABLE ALTERNATIVES FOR FINANCING OR STRATEGIC OPTIONS OTHER THAN CONTINUED FINANCIAL SUPPORT FROM HANWHA

ENTERED INTO DISCUSSIONS WITH HANWHA TO ADDRESS COMPANY'S CURRENT FINANCIAL SITUATION

AIMS TO SECURE NECESSARY SHORT-TERM FINANCING FROM HANWHA

TO ACCOMMODATE SUCH CRITICAL SUPPORT FROM HANWHA, CO CONSIDERED ELECTION OF NEW BOARD

HANWHA TO PROPOSE NEW BOARD TO BE ELECTED AT EGM TO BE HELD DURING WEEK STARTING 4 AUGUST

INDEPENDENT BOARD MEMBER JENS ULLTVEIT-MOE AND WATER STREET CAPITAL AGREED TO SUPPORT ELECTION OF NEW BOARD, INCLUDING CHAIRMAN

Source text: ID:nMFN4w5vlm

Further company coverage: RECSI.OL

 (Gdansk Newsroom)

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