AMG Critical Materials N.V.
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Publicatie datum
24 mrt 2010 - 13:58
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG affiliate Timminco converts repayment liability into equity
Bericht
Amsterdam, 24 March 2010 --- AMG Advanced Metallurgical Group N.V.'s ("AMG," EURONEXT AMSTERDAM: "AMG") 42.5% owned affiliate, Timminco Limited ("Timminco"; TSX: TIM) announced it has agreed with Q-Cells SE ("Q-Cells"), a solar grade silicon customer of Timminco's wholly-owned subsidiary Bécancour Silicon Inc. ("Bécancour"), to issue approximately 15.9 million common shares of Timminco as full and final settlement of substantially all of the outstanding liability of approximately €9.7 million currently due to Q-Cells under the repayment schedule agreed upon in May 2009 (the "Repayment Liability"). Upon completion of the issuance of the common shares, which represent just under 10% of Timminco's current issued and outstanding shares, the balance of the Repayment Liability will be approximately €0.5 million. Timminco has also agreed with Q-Cells that this amount will be fully repaid in cash during 2010.
Datum laatste update: 23 december 2025