Restructuring programme of Componenta Castings Ltd has ended

Componenta Corporation Stock Exchange Release, 22 October 2021 at 10:00 EEST

The restructuring programme of Componenta Castings Ltd has ended upon the approval of the payment of restructuring debt carried out by the company on 15 October 2021 by the supervisor and the provision of the supervisor’s final account of the restructuring programme to creditors today on 22 October 2021.

The Board of Directors of Componenta Corporation has on 13 October 2021 decided to end Componenta Castings Ltd’s (“Componenta Castings”) restructuring programme prematurely. Componenta Castings had previously proposed to its restructuring creditors, in deviation of the restructuring programme, the payment of 90 percent of the remaining amounts payable under the restructuring programme as full and final repayment of its restructuring debts for the purpose of ending the restructuring programme prematurely. Creditors representing over 91 percent of the unsecured restructuring debts of Componenta Castings Ltd have approved the company’s proposal.

The Board of Directors of Componenta Corporation has on 13 October 2021 decided to settle the amount of approximately EUR 3.4 million euros to external restructuring creditors and approximately EUR 2.2 million euros to intra-group restructuring creditors. The intra-group restructuring debts have been settled in their entirety by converting the restructuring debts into a new loan.

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. The supervisor has approved the payments carried out by Componenta Castings on 15 October 2021 and has concluded the fulfilment of the prerequisites for ending the restructuring programme. The final account has been given to the creditors of Componenta Castings today on 22 October 2021, following which Componenta Castings’ restructuring programme has ended.

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

Componenta is an international technology company with operations located in Finland. With its wide technology portfolio, Componenta produces e.g., cast, machined and unmachined components for its clients who are local and global manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki. www.componenta.com