Brief: Ropczyce Reaches Settlement, Signs Agreements With ZM Invest

Zaklady Magnezytowe Ropczyce SA

13/12/2017 10:35

Dec 13 (Reuters) - ZAKLADY MAGNEZYTOWE ROPCZYCE SA (ZMR) 
 RPCP.WA : 
    * SAID ON TUESDAY THAT IT HAS REACHED A SETTLEMENT TO END A 
CORPORATE CONFLICT WITH ZM INVEST SA (ZMI) AND SIGNED 
CONDITIONAL AND PRELIMINARY SHARE PURCHASE AGREEMENTS 
    * AS PART OF THE AGREEMENTS, ZMR WILL SELL A 48.11 PERCENT 
STAKE 
IN ZMI TO ZMI FOR THE TOTAL AMOUNT OF 36.4 MILLION ZLOTYS 
    * ZMI WILL SELL A 32.56 PERCENT STAKE OF ZMR TO ZMR FOR THE 
TOTAL 
AMOUNT OF 52.0 MILLION ZLOTYS 
    * ZMI HAS ALSO COMMITTED TO SELL 5.01 PERCENT OF ZMR SHARES 
FOR 
8.0 MILLION ZLOTYS TO ZMR OR OTHER ENTITY DESIGNATED BY THE 
COMPANY  
    * PARTIES ARE ALSO BOUND TO RESPECT ALL FRAMEWORK AGREEMENTS 
REGARDING COOPERATION AND NOT TO PROPOSE COOPERATION OFFERS TO 
KEY CLIENTS OF THE OTHER SIDE OF THE AGREEMENT 
 
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3qWJpJa 
     
 Further company coverage:  RPCP.WA   
    
 
 
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