With regards to the recent negotiations with the financial institutions of the syndicated loan of Natra SA aimed at obtaining approval to formalize with two international entities a credit line to finance the working capital, since the last of the nine financial institutions required to ratify the agreement did not approve this new financing, six entities of the syndicated loan that had already given their green light to the transaction confirmed their support to the company by formalizing today credit lines amounting to 12.5 million euros. The recipients of these funds will be Natra Chocolate International SL and Natra Cacao SL, operational and commercial companies of both the consumer and the industrial divisions of the Natra Group, respectively.
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As agreed with the financial institutions of its syndicated loan and reported in the Relevant Fact dated August 29, Natra starts a financial restructuring process in parallel with the progress of the financing of its working capital.
The company confirms the information appeared in some media about the progress in the approval of new working capital financing as well as the pending conditions precedent.
As part of the negotiations between Natra SA and its financial institutions for the approval of the new financing of the working capital, the company did not attend the last two installments of interest of the syndicated loan, amounting to 1.4 million euros. Upon accomplishment of the financing transaction, and as agreed with the financial institutions, all obligations foreseen in Natra’s syndicated loan will be attended.
Despite retaining aggregated volumes and selling prices, the increase of procurement costs and the starting up of the factory in Canada at the back of the strong deterioration of the operating result.
Natra SA's Board of Directors aproved on Agust 28, 2014 the main terms for the financing of the working capital of the company with two renowned firms.
Resolutions adopted at the General Shareholders’ Meeting held on June 30, 2014.
The company transfers the publication of the 2014 half-year results to August 31.
On June 5, Fidelity International Ltd., through Fidelity Funds SICAV, increased its shareholding in Natra SA up to 7,064%, mainly by acquiring the shareholding of 5,318% Barten, SA held in the company. The operation was carried out through a block trading.
The Board of Directors of NATRA, S.A., in accordance with the legal and statutory regulations in force, agreed to convene the Annual Ordinary and Extraordinary Shareholders’ General Meeting, to be held in Valencia (Spain), Paseo Alameda, 32, SH Valencia Palace Hotel, on June 27, 2014 at 16:00 hours, for the first call, and June 30, 2014, at the same place and time, for the second call.