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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nyrstar NV | EU:NYR | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0072 | -12.50% | 0.0504 | 0.051 | 0.0578 | 0.057 | 0.05 | 0.0568 | 2,085 | 13:48:13 |
Regulated Information
Nyrstar: Phase 2 Effective Date: Lock-Up Agreement fully effective, overwhelming support of creditors
8 May 2019 at 07:00 CEST
Introduction
On 15 April 2019, Nyrstar NV (“Nyrstar” or the “Company”, and, together with its subsidiaries, the “Group”) announced (the “15 April Announcement”) that it had entered into a lock-up agreement for the recapitalisation of the Group with representatives of its key financial creditor groups (the “Lock-Up Agreement”). For further details of the terms of the recapitalisation, please refer to the 15 April Announcement. All capitalised terms in this announcement shall have the meanings given to them in the 15 April Announcement unless otherwise defined.
Phase 2 Effective Date achieved
Nyrstar is pleased to announce that it has received the requisite support from all the relevant financial creditor groups under the Lock-Up Agreement and the Phase 2 Effective Date has now occurred. Therefore, the Lock-Up Agreement is now fully effective.
At the date of this announcement, formal consents to the Lock-Up Agreement have been received from:
In addition:
2019/2024 Notes Consent Solicitations update
On 15 April 2019 and separate to the Lock-Up Agreement accession process, Nyrstar commenced consent solicitations for the 2019 Notes and the 2024 Notes to request, among other things, a temporary waiver of any defaults or events of default arising as a result of Nyrstar’s failure to pay the March 2019 coupon under the 2019 Notes and the 2024 Notes (the “15 April Consent Solicitation”), which required a 90% consent level for each of those Notes. The 15 April Consent Solicitation deadline was 11.59pm (London time) on 7 May 2019 and such deadline has passed without the level being met.
Convertible Bonds meeting on 21 May 2019
Holders of the Convertible Bonds are reminded that, as announced by the Company on 6 May 2019, a general meeting of Convertible Bondholders will be held on 21 May 2019. For further details on this meeting, please refer to the Company’s announcement of 6 May 2019 and the notice convening this meeting, which has been published on the Nyrstar website https://www.nyrstar.com/en/investors/share-and-bondholder-information/bondholder-information and on Lucid’s website, as detailed below.
Conclusion
Nyrstar continues to encourage all remaining relevant creditors to accede to the Lock-Up Agreement and will provide further updates as appropriate in due course. Nyrstar thanks its stakeholders for their on-going support in relation to its Capital Structure Review.
Lucid contact details regarding the Lock-Up Agreement and the Consent Solicitation
A copy of the Lock-Up Agreement and additional details about acceding to the Lock-Up Agreement and voting on the Consent Solicitation can be obtained from Lucid:
Sunjeeve Patel / Victor Parzyjagla
Website: www.lucid-is.com/nyrstar
Telephone: + 44 20 7704 0880
Email: nyrstar@lucid-is.com
About Nyrstar
Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals, which are essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,100 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website: www.nyrstar.com.
For further information contact:
Anthony Simms Head of Investor Relations T: +41 44 745 8157 M: +41 79 722 2152 anthony.simms@nyrstar.com
Franziska Morroni Head of Communications T: +41 44 745 8295 M: +41 79 719 2342 franziska.morroni@nyrstar.com
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1 Month Nyrstar NV Chart |
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