ROY Asset Holding SE
ROY Ceramics SE: Further payments by White Horse
ROY Ceramics SE: Further payments by White Horse
ROY Ceramics SE sold its operating subsidiary to White Horse Holdings Limited in 2015, and initially deferred the sales price. Of the total sales price of USD 80 million, White Horse has now paid USD 20 million, including the now-received payment. White Horse again assured ROY Ceramics SE that it would settle the remaining owed purchase price after real property tax and fees, and including interest of USD 52 million. The payment in partial amounts is due to the existence of controls on capital movements of amounts in USD denominations for payments from the People’s Republic of China. Following intensive consultation with White Horse regarding the amounts still owed to ROY Ceramics SE, ROY Ceramics SE continues to assume that White Horse will fulfill its obligation in full. ROY Ceramics SE still expects to receive monthly partial payments from White Horse until the debt is settled. For the continued course of the envisaged relocation of production to Houston, Texas, ROY Ceramics SE does not see any negative effects from the settlement via continued future partial payments, and continues to hold to the goal of completing the new manufacturing plant in Houston, Texas in about two years. About ROY Ceramics SE For further information please contact us at: Tel.: 49 (0)69 710455155 End of Media Release Issuer: ROY Ceramics SE Key word(s): Finance
13.07.2017 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | ROY Ceramics SE |
Bockenheimer Landstr. 17/19 | |
60325 Frankfurt/Main | |
Germany | |
Phone: | +49 (0) 69 710455155 |
Fax: | +49 (0)69 710455450 |
E-mail: | ir@roykeramik.de |
Internet: | www.roykeramik.de |
ISIN: | DE000RYSE888 |
WKN: | RYSE88 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart; Wien (Dritter Markt (MTF) / Third Market (MTF)) |
End of News | DGAP Media |