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Obrascon Huarte Lain - Pacadar

Mon, 17th Jun 2019 07:41

RNS Number : 4404C
Obrascon Huarte Lain, S.A.
17 June 2019
 

OBRASCÓN HUARTE LAIN, S.A. ("OHL" or the "Company") in compliance with the provisions of Article 228 of the Refunded Text of the Securities Market Act approved by Royal Decree Law 4/2015 of 23 October informs the National Stock Market Commission of the following

 

RELEVANT FACT

 

The Company has executed with Grupo Villar Mir, S.A.U ("GVM") and Pacadar, S.A.U ("Pacadar") a settlement agreement to end the existing discrepancies and providing a strong asset position in the Company through executive instruments detailed below.

The fundamental aspects of the aforementioned settlement agreement are as follows:

1.    Pacadar acknowledges a debt with OHL amounting to 34,865,575.76 Euros plus the interests accrued on a daily basis from 15 February 2018 at a five per cent (5%) fixed interest rate p.a. of which, as of 11 April 2019, Pacadar has already satisfied 537,510.96 Euros ("Debt 1").

2.    GVM acknowledges a debt with OHL amounting to 75,609,000 Euros plus the interests accrued on a daily basis from 8 July 2016 at a five point five per cent (5.5%) fixed interest rate p.a. ("Debt 2").  

3.    Both debt acknowledgments are recorded in public deed with a liquidity agreement in order to to constitute an executive title.

4.    The pledge over Pacadar shares that, before the settlement agreement, only guaranteed GVM debt will now guarantee both Debts, GVM committing to provide additional guarantees.

5.    Debt 1 and Debt 2 maturity is the 30 September 2020 without prejudice of GVM commitment to make its best efforts to make payment within the current 2019 financial year.

 

At Madrid the 17 June 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Date   Source Headline
31st Jul 20194:47 pmRNSObrascon Huarte Lain - 1H 2019 results
19th Jul 20191:08 pmRNSObrascon Huarte Lain - Liquidity Agreement
15th Jul 20194:22 pmRNSObrascon Huarte Lain - 1H 2019 Results
17th Jun 20197:44 amRNSObrascon Huarte Lain - Atizapan - Atlacomulco Agreement
17th Jun 20197:41 amRNSObrascon Huarte Lain - Pacadar

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