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OLTCHIM S.A. RM. VALCEA - OLT

Completion of the EC's investigation into State aid granted to Oltchim

Release Date: 12/18/2018 10:40:28 AM

IRIS Code: 6D4C2

Registration no: 14561/18.12.2018

To:

Bucharest Stock Exchange

Financial Supervisory Authority

Financial Instruments and Investors Sector

 

Current report according to the provisions of FSA Regulation no. 5/2018 on Issuers of Financial Instruments and Market Operations

Date of report: December 18, 2018

Name of the company: Oltchim S.A. Rm. Valcea

Registered office: Rm. Valcea, 1 Uzinei Street

Fax number: 0250/735030/736188

Phone number: 0250/701200

Unique Registration Code:RO1475261

Trade Register Number: J38/219/1991

The European Unique Identifier (EUID): ROONRCJ38/219/1991

Legal Entity Identifier (LEI): 254900KXPD2OOC2LLX56

Subscribed and paid up capital: 34,321,138.30 lei

Regulated market on which the issued shares are traded: BSE, standard category, market symbol OLT

Event to be reported:

Completion of the European Commission's investigation into State aid granted to Oltchim SA

Oltchim S.A. informs shareholders that on 17.12.2018 a press release regarding the completion of the investigation launched in April 2016 was published on the European Commission (EC) website to establish whether certain measures taken by Romania in support of Oltchim complied with EU rules on State aid.

The Commission concluded that the public funding granted by Romania to Oltchim, about 335 million EUR plus interest, is incompatible with EU State aid rules and has to be recovered by Romania from Oltchim SA.

The statement also states that the company which acquired the assets, namely Chimcomplex SA, did not benefit from the previous aid granted to Oltchim and is therefore not required to reimburse them.

At the request of the entitled authority / authorities, Oltchim SA will enter the amount set as state aid to be recovered in the creditors' table, according to the national insolvency law.

Attached is the full press release of the European Commission, taken from the site of the institution. 

Legal  Administrator

ROMINSOLV SPRL

 

Legal  Administrator

BDO BUSINESS RESTRUCTURING SPRL       

 

 Special Administrator

 Bogdan Stanescu

 

 

 

 



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