Shareholders also decided to prolong the maturity of the credit line worth maximum USD120 million until November 20, 2023 and to prolong the maturity of the credit line used for issuing Letters of Credit and Guarantee Letters with a value of USD30 million until February 29, 2024;
The company will conclude with the New Syndicate of Banks an immovable mortgage agreement on the key immovable assets of the company (which are also mortgaged under the immovable mortgage agreements dated 14 December 2015, 16 November 2017 and 11 January 2019) formed, among others, of plots of land, buildings, structures, constructions representing improvements of the plots of land, any other immovable properties and all the annexes, utilities, devices, assets and equipment that are immovable by destination and movable assets accessory to immovable property, as shall be agreed with the creditors and the granting of the mortgages thereunder (“the Additional Immovable Mortgage Agreement”).
It will also conclude with the New Syndicate of Banks a movable mortgage agreement on some movable assets held by the company (which are also mortgaged under the movable mortgage agreements dated 14 December 2015, 16 November 2017 and 11 January 2019).
Alro Slatina is majority owned by Russian group Vimetco (54.2%), while Paval Holding owns 23.2% and investment fund Fondul Proprietatea owns 10.2%.
ALR shares have been trading down 9.83% since the beginning of 2020, amid deals worth RON9.6 million, ensuring the company a market value of RON1.5 billion.