World News: 17:00 GMT Wednesday 15th May 2019. [RECYLEX SA via Globe Newswire via SPi World News]
Recylex S.A. (Euronext Paris: FR0000120388 - RX) announces today that the financial partners of its German sub-group have agreed, on the basis of the state of the ongoing discussions, to extend until May 31 2019 the waiver on their rights to early terminate the existing financing agreement. They have also agreed to waive the repayments that were due on December 31 2018 and on March 31 2019 until that same date.
Although a consensus has been reached on the main financial terms and conditions of the new financing framework, additional time is required for the necessary coordination between all the parties involved in order to finalize all aspects of the financing. The Group is looking forward to finalizing the financing agreements by end of May 2019.
Pending the finalisation of the global agreement, the bridge financing obtained from Glencore International AG has been increased to €17.0 million and its repayment date is also postponed to May 31 2019.
As a result, the Board of Directors of the Company called upon to approve the 2018 annual financial statements cannot be held within the agenda initially set and the Annual General Meeting of Recylex S.A. notably to approve these financial statements must be held after June 30 2019. In this respect, Recylex S.A. will request a postponement from the Paris Commercial Court.
Recylex will keep investors informed of the outcome of the ongoing discussions and the schedule for the 2019 Annual General Meeting.
1 See notably press releases of December 5 2018, March 26 2019 and April 29 2019.
Raw materials from urban mines
The Recylex Group, based in France and Germany, is a European specialist in the recycling of lead, zinc, polypropylene and in the production of high-purity special metals. As a key player in the circular economy and thanks to its long-standing know-how, Recylex achieved consolidated sales of € 365 million in 2018 and employs more than 730 employees.
For more information about the Recylex Group:
Press & Investor contact: Gabriel Zeitlin | T +33 (0)158 47 29 89 | E
Globe Newswire: 17:00 GMT Wednesday 15th May 2019
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