|Delayed - 12/04 04:20:59 am|
Thrace Plastics and Commercial S A : Sale of Property of Thrace Linq Inc, a fully owned (100%) subsidiary
|06/24/2020 | 07:00pm|
June 18, 2020
Sale of Property of Thrace Linq Inc, a fully owned (100%) subsidiary
The Management of Societe Anonyme under the name 'THRACE PLASTICS HOLDING COMPANY SOCIETE COMMERCIAL ANONYME', with the distinctive title 'THRACE PLASTICS CO S.A.'
The Management of Societe Anonyme under the name 'THRACE PLASTICS HOLDING COMPANY SOCIETE COMMERCIAL ANONYME', with the distinctive title 'THRACE PLASTICS CO S.A.' (called as 'Company' hereafter), and in application of the clauses of article 17 with number 596/2014 of the Regulation of the European Parliament and the Council as of 16th April 2014, proceeds with the following disclosure. In relation to the announcement made on 24/04/2020 regarding the permanent cessation of operations in the fully owned (by 100%) subsidiary Thrace Linq Inc., the Management informs the investors' community that the sale and transfer of the privately owned industrial property, which is located in South Carolina, USA (and in which the above subsidiary was housed), has been completed.
The sale's consideration settled at USD 14,500,000. It should be noted that as a result of the above, the Group is expected to record an extraordinary profit for the year 2020. The cash that will be collected, following the aforementioned transaction, will be used to reduce the Group's Net Debt.
Thrace Plastics Co. SA published this content on 18 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2020 22:58:04 UTC