Nip Impressions logo
Tue, Aug 3, 2021 16:47
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
My Profile
Management Side
Lecta Group obtains all necessary conditions for implementation of recapitalization
LONDON (News release) -- Lecta Group announces that all necessary conditions precedent required for the implementation of Recapitalization have been obtained and it is expected that the Recapitalization Effective Date will be 16 July 2020.

The Company welcomes this positive development and is confident that following the Recapitalization the Company will emerge with a solid liquidity position and healthy balance sheet. In particular, the Company considers that the Recapitalization will significantly improve the Group's liquidity profile, reduce the Group's net leverage and increase the Group's flexibility.

As further described in the Investor Pack, completion of the Recapitalization is subject to the satisfaction of various conditions precedent on or prior to the Long-Stop Date. Following discussions with various stakeholders, including the Underwriters, the Long-Stop Date under both the Implementation Agreement and the Lock-Up Agreement was extended, with the consent of the requisite majorities, from 30 June 2020 to 28 July 2020 to grant the Company additional time to secure the relevant confirmations, acknowledgements and consents required for implementation of the Recapitalization.

The Paperitalo Supplier Directory is where to easily find qualified suppliers

Printer-friendly format


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: