Componenta Castings Ltd has carried out payments required for premature ending of restructuring programme
Componenta Corporation, Stock Exchange Release, on 15 October 2021 at 16.10 pm Finnish time
The Board of Directors of Componenta has on 13 October 2021 decided to end the Componenta Castings Ltd’s restructuring programme prematurely and to pay its restructuring debts in the total amount of approximately EUR 5.6 million.
The Componenta Castings Ltd has on 15 October 2021 carried out the aforementioned payments of approximately EUR 5.6 million to its creditors, consisting of approximately EUR 3.4 million external restructuring debts and EUR 2.2 million intra-group restructuring debts. Payments to creditors that have remained unreachable or to creditors whose receivables are, for some reason, unclear receivables have been deposited to the separate escrow account. The intra-group restructuring debt to the parent company has been settled by converting it entirely into a new loan. Following the conversion the Company has fulfilled its liability arising from the restructuring programme also towards this creditor. As a consequence of the payments and conversion, the Company sees that the payment obligations of its restructuring programme have been fulfilled in full.
The restructuring programme is considered ended when the supervisor of the restructuring programme has approved the payments and has provided creditors with the supervisor’s final account. This is expected to take place in October. The Company will issue a separate stock exchange release in connection with the completion of the supervisor’s final account and the ending of the restructuring programme.
COMPONENTA CORPORATION
Sami Sivuranta
President and CEO
For further information, please contact:
Sami Sivuranta, President and CEO, tel. +358 10 403 2200
Marko Karppinen, CFO, tel. +358 10 403 2101
Distribution:
Nasdaq Helsinki
Principal media
www.componenta.com
Componenta Corporation is an international technology company and Finland's leading contract manufacturer in the machine building industry. Sustainability and customer needs are at the core of the company’s broad technology portfolio. Componenta Corporation manufactures components for its customers, which are global manufacturers of machinery and equipment. The company’s stock is listed on the Nasdaq Helsinki. www.componenta.com