Imtech: Further update on discussions with financiers
· No agreement has been reached with financiers for an increase of liquidity headroom
· Ongoing dialogue with financiers
· Royal Imtech and Imtech Germany are evaluating the current situation
Further to its press release of 28 July last, Royal Imtech provides a further update on the discussion with its financiers.
As announced on 28 July last, Imtech and its financiers are in an ongoing dialogue about all possible long term structural solutions and about an amendment to the financing arrangements including an increase in liquidity headroom of €75 million for the group and its subsidiaries, by utilising a portion of its available guarantee headroom to facilitate such liquidity facility until the end of December 2015 in two tranches of €37.5 million.
Over the last days it has become clear that in light of requirements of German law, in addition to the existing commitments of Royal Imtech towards Imtech Germany, in the short term additional commitments have to be made vis-a-vis Imtech Germany. This is being discussed with financiers with a view to amend the proposal and the apportionment of the liquidity headroom mentioned above on behalf of Imtech Germany.
These discussions are ongoing and Imtech will update the markets in due course.
More information
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| Dorien Wietsma | Jeroen Leenaers |
Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of electrical solutions, automation and mechanical solutions. With approximately 22,000 employees, Imtech holds attractive positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European market of Traffic as well as in the global marine market. Imtech offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society - for example, in the areas of energy, the environment, water and traffic. Imtech shares are listed on Euronext Amsterdam.
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Source: Imtech via GlobeNewswire
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