Nyrstar provides an update on the summary proceedings with regards to the appointment of a panel of experts
30 Ottobre 2020 - 10:00PM
Nyrstar provides an update on the summary proceedings with regards
to the appointment of a panel of experts
Regulated information – inside information
Nyrstar provides an update on the summary
proceedings with regards to the appointment of a panel of
experts
30 October 2020 at 22.00 CET
Nyrstar NV (the “Company”) today provides an
update on the summary proceedings initiated by certain minority
shareholders against the Company that have been introduced by
subpoena on 27 April 2020.
The President of the Antwerp Enterprise Court
has today issued a court order in which it has ruled in favor of
the minority shareholders’ claim to appoint a panel of company law
experts in accordance with Article 7:160 of the Belgian Code of
Companies and Associations. The court order includes, but is not
limited to, the following elements:
- A panel of three independent experts is appointed to
investigate:
(i) whether the transactions between the former
Nyrstar Group and the Trafigura Group on and after 9 November 2015
were entered into “at arm’s length” and under normal commercial
conditions and, if not, to estimate the direct and indirect damages
suffered by Nyrstar as a result of violations of this
principle;(ii) whether the conditions for the transfer of all
rights from the agreements between Talvivaara Mining Company group
and Nyrstar, by Nyrstar to Terrafame, Winttal Oy Ltd. and
consequently Terrafame Mining, were at arm’s length and, if not, to
estimate the direct and indirect damages suffered by Nyrstar as a
result of this transfer; and (iii) what the causes were of the
liquidity crisis, as well as whether it was necessary for Nyrstar
to enter into the binding term sheet, the TFFA and the Lock-up
Agreement, and advise whether the terms of these agreements were at
arm’s length and, if not, estimate the damages suffered by Nyrstar
as a result of entering into these agreements.
- The Company to deposit an advance of EUR 121,000 at the court
registry to cover the costs of the panel of experts.
The Company is currently reviewing the court
order with its legal advisers and will consider whether or not to
lodge an appeal against the court order.
About NyrstarThe Company is incorporated
in Belgium and, following completion of the
recapitalisation/restructuring has a 2% shareholding in the Nyrstar
group. The Company is listed on Euronext Brussels under the symbol
NYR. For further information please visit the Nyrstar website:
www.nyrstar.be.
For further information contact:
Anthony Simms - Head of
External Affairs & Legal
M: +41 79 722 2152 anthony.simms@nyrstar.com
- Nyrstar expert panel decision EN
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