DGAP-Ad-hoc: NANOGATE SE / Key word(s): Financing
NANOGATE SE Arranges for Covenant Suspension
23-Dec-2019 / 13:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Nanogate SE, a leading global technology company for design-oriented, multifunctional components and surfaces, has, in constructive discussions with the lending banks, agreed on a suspension of the leverage covenant of the syndicated loan agreement of May 2018 for the effective date of December 31, 2019. As part of the agreement, the interest expense will increase moderately. Further discussions will take place in the first quarter of 2020 to adapt the contracts for the longer term if necessary. With the agreement reached, the available credit lines remain unchanged.
Reporting party: Götz Gollan, CFO Nanogate SE
Contact Christian Dose / Volker Siegert
Financial Press and Investors
WMP Finanzkommunikation GmbH
Tel. +49 69 57 70 300 -21 / -11
[email protected]
Information and Explanation of the Issuer to this News:
Nanogate (ISIN DE000A0JKHC9) is a leading global technology company for design-oriented, multifunctional components and surfaces. The Group employs around 1,800 people. Nanogate develops and produces design-oriented surfaces and components and enhances them with additional properties (e.g. nonstick, scratchproof, anticorrosive). The Group has first-class references (e.g. Airbus, Audi, August Brötje, BMW, BSH Hausgeräte, Daimler, FILA, Ford, Fresenius, GM, Jaguar, Junghans, Porsche and Volkswagen). Several hundred mass production projects for customers have already been implemented successfully. The Nanogate Group is represented on both sides of the Atlantic and in India.
True to its slogan 'Reinventing the Possible', Nanogate is a long-standing innovation partner who opens up the diverse possibilities offered by new materials to companies in a wide range of industries. It aims to improve customers' products and processes and to provide environmental benefits by using multifunctional surfaces, such as those made of plastic or metal, and innovative plastic components. The Group focuses on attractive applications, primarily for the mobility, aviation, home appliances, interior, leisure, and medical sectors - its target industries. As a systems provider, Nanogate broadly covers the value chain: design and engineering, materials development for surface systems, series coating of various different substrates as well as the production and enhancement of complete plastic components. The main value drivers are the opening up of international markets and the development of new applications, particularly for the three strategic areas Intelligent Surfaces, New Mobility and Artificial Metals.
Disclaimer
This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Nanogate SE (the 'Shares') may not be offered or sold in the United States or to or for the account or benefit of 'U.S. persons' (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act')). No offer or sale of transferable securities is being made to the public.
23-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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