As a reminder*, the last amicable prevention proceeding (“procédure de conciliation”) implemented at the Company's initiative ended on
As a result, a very large part of the Company's debt became payable on
As of that date, the Company has liabilities due and payable of approximately €50.1 million and does not have sufficient available resources to meet them.
In this context, the Company has requested the opening of a reorganization proceeding before the Paris Commercial Court, as well as the examination of the takeover offer for its two industrial sites located in Escaudoeuvres and Villefranche-sur-Saône (including its subsidiary C2P S.A.S.), made by Campine NV* in the context of a "prepack-cession".
By judgement date
The Paris Commercial Court has also granted the Company's request to examine a plan for the partial sale of the company under the specific terms of the "prepack-cession", after a favorable opinion from the
Consequently, the Company announces that the hearing to examine the offer or offers, as the case may be, is scheduled for
The Company will inform the market of the Court's decision.
In view of the above, there are no plans at this stage to resume the listing of
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* See press release of
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Disclaimer: This press release is a non-official translation into English of the press release of the same date issued in French language and is provided solely for the convenience of English-speaking users. This press release should be read in conjunction with and construed in accordance with French law. Disclaimer: This press release may contain forward-looking statements that constitute either trends or objectives and should not be construed as forecasts of results or any other performance indicator. This information is by its nature subject to risks and uncertainties, as described in the Company's Annual Report available on its website (www.recylex.fr). More detailed information on
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Raw materials from urban mines
For more information about the
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Press & Investor contact: T +33 (0)158 47 29 91 | E info@recylex.eu
Administrative office: 79 rue
Attachment
Recylex S.A. -Recylex S.A. placed in a court-ordered reorganization proceeding
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