De Bilt, 9 March 2012 - Grontmij N.V. today announces a comprehensive financial solution that has been agreed upon with its banks and certain major shareholders. In order to obtain sufficient financial flexibility and to enable Grontmij to focus on the execution of the restructuring plans and the operational activities, the comprehensive solution involves a new debt facility and a rights offering (subject to formal approvals.)
Key points financial solution:
- Fully underwritten € 80 million rights offering backed by certain major shareholders
- Pre-commitment of 48.5% by these shareholders: remaining 51.5% volume committed by ING Bank N.V. and Nordea Bank Danmark A/S
- New debt facilities for an amount of € 180 million with a tenor of four years and a short term working capital facility until year-end 2012 of € 10 million
Michiel Jaski, Grontmij CEO:
'We are pleased to announce a financial solution that permits Grontmij to look forward with confidence. For the Boards of Grontmij it is extremely important that, as part of this solution, we can offer all shareholders an equal opportunity to participate in the recovery in the years to come. With the rights offering we have secured that opportunity. Backed by this financial solution the almost 10.000 professionals working at Grontmij can now fully focus again on the business, to deliver excellent service in sustainable design and management consultancy to our customers.'
To the website grontmij.com for the full press release (http://www.grontmij.com/MediaCenter/Pages/Press-release-Grontmij-announces-comprehensive-financial-solution.aspx)
Note to editors
Grontmij is the third largest engineering consultancy in Europe with nearly 10,000 professionals. At the heart of our business is the sustainability by design principle. It is a leading value proposition for our customers delivered by four business lines: Planning & Design, Transportation & Mobility, Water & Energy, Monitoring & Testing.
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Source: GRONTMIJ N.V. via Thomson Reuters ONE
