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OLTCHIM S.A. RM. VALCEA - OLT

Sale of Oltchim assets bundles

Release Date: 10/24/2017 5:15:00 PM

IRIS Code: 0085A

 Registration no: 11653/24.10.2017

To,

Bucharest Stock Exchange

Financial Supervisory Authority

Current report according to the provisions of art. 122 of Law no. 24/2017 on Issuers of Financial Instruments and Market Operations and Art. 113 of Regulation no. 1/2006

Date of Report: 24.10.2017

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

The company headquarters: Rm. Valcea, 1 Uzinei str.

Fax: 0250/735030; telephone: 0250/701200

VAT no.: RO1475261

Trade Register no.: J38/219/1991

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

Legal Entity Identifier (LEI): 254900KXPD2OOC2LLX56

Capital subscribed and paid: 34,321,138.30 lei

The regulated market where the shares are traded: BSE, symbol OLT, Standard Category

Event to be reported: The sale of Oltchim’s assets bundles

In the context of the competitive procedure for the sale of the Company's assets launched by Oltchim S.A. (The "Company") at the end of last year to sell a number of nine assets bundless held by the Company within the reorganization stage of the Company's insolvency proceedings ("Sale Process"),  in the context of the preliminary selection by the Company with regard to the nine tenderers who submitted binding offers in the Sales Process, as well as in the context of the previous report dated 18.10.2017:

(1)               Oltchim S.A. signed with Chimcomplex S.A. Borzesti the assets sale contract for asset bundles no. 1-5 and partly no. 7;

(2)               Oltchim S.A. signed with Dynamic Selling Group S.R.L., the assets sale contract, regarding the assets bundle no. 6;

(3)               Oltchim S.A. asked White Tiger Wealth Management Ltd to sign the asset sale contract on asset bundles no. 1, 3-5, 7, 8 and partly no. 9, White Tiger Wealth Management Ltd. refusing to sign it and announcing the unilateral withdrawal of the transaction.

Further discussions are held with other bidders who have submitted binding offers.

The completion of transactions under these contracts is subject to certain conditions to be met, including final approval by the general meeting of the Company's creditors, this body finalizing the selection of the winning bidders. Important information on the other binding offers will be presented to creditors for information purposes in the context of the Sale Process.

The Company will continue to inform the market on the Sale Process in accordance with applicable regulations until its completion, expected to take place in the first half of 2018.

 

Judicial Administrator

BDO Business Restructuring SPRL

____________________________

 

Judicial Administrator

Rominsolv SPRL

____________________________

 

 

Special Administrator

Stanescu Bogdan

____________________________

 

 

General Manager

Avram Victor

______________________________

 

 



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