Restructuring programme of Componenta Corporation has ended

Componenta Corporation Stock Exchange Release, 27 April 2021 at 1 p.m. EEST

The restructuring programme of Componenta Corporation has ended upon the approval of the payment of restructuring debt carried out by the Company on 31 March 2021 by the supervisor and the provision of the supervisor’s final account of the restructuring programme to creditors today on 27 April 2021.

The Board of Directors of the Company has on 25 February 2021 decided to end the Company’s restructuring programme prematurely and to pay its restructuring debts in the total amount of EUR 5.9 million. This amount has included approximately EUR 0.2 million of conditional and maximum amount guarantee debts, the final amounts of which were not confirmed and the repayment of which the Company had to separately agree on with each respective creditor.

The Company has on 31 March 2021 carried out the aforementioned EUR 5.9 million payments to its creditors, the amount of which has become more precise during the course of March 2021. Additionally, the Company has reached agreements with creditors of the conversion into new maximum amount debts of approximately EUR 0,1 million conditional and maximum amount restructuring debts based on guarantee liabilities. Following the conversion the Company has fulfilled its liability towards these creditors arising from the restructuring programme. As a consequence of the payments and conversion, the restructuring programme has been fully carried out by the company.

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 the Company on 31 March 2021 and has concluded the fulfilment of the prerequisites for ending the restructuring programme. The final account has been given to the creditors of the Company today on 27 April 2021, following which the Company’s restructuring programme has ended in its entirety.

The premature ending of the Company’s restructuring programme will not affect the restructuring programme of Componenta Castings Ltd. (formerly Componenta Finland Ltd), which shall continue in accordance with its terms and conditions until 2023.

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