Nyrstar: Interim proceedings initiated by a group of minority shareholders
November 11 2019 - 1:00PM
Nyrstar: Interim proceedings initiated by a group of minority
shareholders
Nyrstar: Interim proceedings initiated by a group of minority
shareholders
11 November 2019 at 20.00 CET
Nyrstar NV ("Nyrstar" or the “Company”) confirms
that on the evening of Friday 8 November 2019 it received a writ of
summons to appear before the President of the Commercial Court in
Antwerp at the request of a group of minority shareholders of the
Company (the “Minority Shareholders”). Amongst other matters,
the Minority Shareholders are seeking that the decisions that were
taken by the Annual General Meeting of the Company on Tuesday 5
November 2019 are suspended and that a provisional administrator be
appointed and tasked to convene a further Annual General Meeting of
the Company to re-run the voting of all the proposals.
Nyrstar emphasizes and confirms that the Annual
General Meeting of the Company on Tuesday 5 November 2019 was
validly held and concluded over a period of more than 10 hours.
Nyrstar’s directors and its auditor had received many written
and oral questions and they dedicated the quasi-totality of the
meeting to responding to those questions. Nyrstar’s directors
and auditors remained available for further questions but certain
Minority Shareholders themselves preferred to leave the
meeting. Nyrstar believes that the claims by the Minority
Shareholders in the interim proceedings application are therefore
unfounded and vexatious.
The Company emphasizes again that the
restructuring of the Nyrstar group avoided multiple international
insolvencies and was completed for the benefit of all stakeholders.
In particular, the restructuring maintained the employment of
approximately 4,100 workers across Nyrstar’s global smelting and
mining operations, avoided the potential for environmental harm at
Nyrstar’s sites that could have arisen from an insolvency-driven
closure of operations and achieved significantly better recoveries
for both creditors and shareholders compared to an insolvency. The
Company will therefore vigorously defend itself against the
unfounded claims of the Minority Shareholders.
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
Investor Relations T: +41 44 745 8157 M:
+41 79 722 2152 anthony.simms@nyrstar.com
- Writ of summons EN 11112019 FINAL FINAL
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