REC Silicon – Settlement of claims under indemnity loans
18 Octubre 2021 - 3:54PM
REC Silicon – Settlement of claims under indemnity loans
Moses Lake, WA, October 18, 2021: Reference is made to previous
announcements from REC Silicon ASA ("REC") of 20 December 2019 and
18 November 2020 about claims from Nordea of NOK 150 million under
certain indemnity arrangements.
REC and Nordea have now entered into a settlement agreement
pursuant to which Nordea releases all claims against REC, against
payment of NOK 95,000,000, of which approx. NOK 32 million is
settled through an existing escrow account of REC with Nordea, and
the balance is to be settled in one payment of approx. NOK 63
million by the end of February 2022.
For further information, please contact: James A. May II, Chief
Financial Officer Phone: +1 509 989 1023 Email:
james.may@recsilicon.com
Nils O. Kjerstad, IR Contact Phone: +47 9135 6659 Email:
nils.kjerstad@crux.no
About REC Silicon REC Silicon is a leading producer of advanced
silicon materials, delivering high-purity polysilicon and silicon
gas to the solar and electronics industries worldwide. We combine
30 years of experience and proprietary technology with the needs of
our customers, and annual production capacity of more than 20,000
MT of polysilicon from our two US-based manufacturing plants.
Listed on the Oslo Stock Exchange (ticker: REC), the company is
headquartered in Fornebu, Norway.
For more information, go to: www.recsilicon.com
This information is considered to be inside information pursuant
to the EU Market Abuse Regulation. This stock exchange announcement
was published by James May III, CFO at REC Silicon ASA, on 18
October, 2021 at 22:55 CET.
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