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ROBIT PLC’S FINANCING AGREEMENT RENEWED

Written by Customer Service on . Posted in Public Companies.

ROBIT PLC        STOCK EXCHANGE RELEASE        17 JUNE 2020 AT 1.00 PM
                     
ROBIT PLC’S FINANCING AGREEMENT RENEWEDRobit Plc has agreed on the restructuring of EUR 24.5 million in loans with its main financing bank.In the new agreement, Robit Plc’s current loans expiring during 2020 and 2021 (altogether approximately MEUR 17,0), the repayment will be postponed by one year, meaning a new due date on 30 June 2020.The company’s instalments of the loan (approximately MEUR 7,5) will be postponed so that the first instalment of MEUR 2,0 expires on 31 December 2020. Subsequently, the instalments of MEUR 2,0 will expire half-yearly, meaning that the final instalment of MEUR 1,5 will expire on 30 June 2022.Robit Plc has received a waiver from the financier, should the covenant be breached on 30 June 2020.The company is content with the solution in the current refractory market situation. With this arrangement Robit Plc ensures its liquidity.Robit Plc will publish its Interim Report 1 January – 31 June 2020 on Thursday 6 August 2020 at 11.00 am.ROBIT PLC
Arto HalonenFurther information:
Arto Halonen, CFO
+358 40 028 0717
arto.halonen@robitgroup.comDistribution:
Nasdaq Helsinki Ltd
Key media
www.robitgroup.comRobit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company’s offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 9 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.    

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