Changes to the payment programmes of the approved restructuring programmes of Componenta Corporation and Componenta Finland Ltd

Componenta Corporation Stock Exchange Release on 14 December 2018 at 15.20

The District Court of Helsinki has today on 14 December 2018 affirmed changes to the approved restructuring programmes of Componenta Corporation and Componenta Finland Ltd. The supervisor of the companies’ restructuring programmes has on 6 November 2018 applied for the amendment of payment programmes included in the approved restructuring programmes.

The amendments to the payment programmes approved by the District Court principally concern the specification of the amounts of conditional and maximum amount restructuring debts as well as minor corrections in restructuring debts. The most central change concerns the removal of the guarantee liability of Componenta Corporation to the Turkish club loan banks from the company’s conditional and maximum amount debts as a result of the sale of its shares in Componenta Dökümcülük Ticaret ve Sanayi A.Ş (“Turkish company”). Componenta Corporation has issued a stock exchange release on the sale concerning the Turkish company as well as the release of its guarantee liability on 27 September 2017.

Pursuant to the approved restructuring programme of Componenta Corporation, a supplementary payment obligation is incurred to the company towards its unsecured creditors insofar as its guarantee liabilities included in its restructuring debts materialise in an amount smaller than the maximum amount set forth in the restructuring programme. Following the specification of the company’s guarantee liabilities, the amount of the company’s restructuring debts has decreased approximately EUR 80 million in total, subsequent to which the payments allocated to this amount in the restructuring programme, approximately EUR 3.2 million, which are already recognized in the liabilities of the company's balance sheet, shall in accordance with the supplementary payment obligation be distributed to unsecured creditors in proportion with their final receivables. The supplementary payment obligation shall finally be calculated and paid to entitled creditors on the last payment day of the payment programme.

The amendments to the approved restructuring programmes of Componenta Corporation and Componenta Finland Ltd have only a minor effect to payments to be made in accordance with the restructuring programmes, and do not have an effect on the financial position of the company.

COMPONENTA CORPORATION

Harri Suutari
President and CEO

For further information, please contact:

Harri Suutari
President and CEO
tel. +358 10 403 2200

Marko Karppinen
CFO
tel. +358 10 403 2101

Componenta is an international technology company. Componenta specializes in supplying cast and machined components to its global customers, who are manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.