RoodMicrotec enters into final settlement agreement with Robus regarding legal proceedings on 2010 perpetual bond
Deventer, March 8, 2023 – RoodMicrotec N.V., a leading independent company for semiconductors supply and quality services, today announces that its wholly owned subsidiary RoodMicrotec GmbH has entered into an agreement for a full and final settlement with Prime Capital Debt SCS, SICAV-FIS – Robus Recovery Sub-Fund ("Robus") regarding the perpetual bond that RoodMicrotec GmbH issued in 2010 and which is held by Robus.
As announced on 21 February 2022, Robus had initiated legal proceedings against RoodMicrotec GmbH before the Regional Court of Frankfurt am Main. Robus claimed being entitled to an 11.7% compensation payment in relation to 2017, 2018 and H1-2021. In addition, alleging non-compliance by RoodMicrotec GmbH of the terms and conditions of the 2010 perpetual bond, Robus claimed the immediate and full repayment of the nominal amount of the perpetual bond asserting grounds for the extraordinary termination of the perpetual bond. The total amount claimed by Robus in the proceedings amounted to EUR 2,568k to be increased with 11.7% interest for the applicable period.
Following an oral hearing held on 7 March 2023, the parties have reached agreement on a full and final settlement that was reached before and confirmed by the Regional Court of Frankfurt am Main. Pursuant to the settlement, RoodMicrotec GmbH shall pay a total amount of EUR 2,194k, in four equal instalments of EUR 548k each, by 31 March, 30 June, 30 September and 31 December 2023. RoodMicrotec will be able to pay the instalments from free available cash.
RoodMicrotec is pleased that the ongoing litigation procedure is now settled and the dispute is closed.
RoodMicrotec is a leading independent company for semiconductor supply and quality services. With more than 50 years of experience in the semiconductor and electronics industry, RoodMicrotec is well-established as a highly valued partner for many companies worldwide. The Company provides full-turnkey ASIC services for complex microchips that are customized to handle specific applications for individual customers. In cooperation with strong partners, RoodMicrotec manages the entire development and production flow of ASICs in the target volume, ranging from low quantities up to multiple millions per year. The turnkey solution includes project management, wafer test, assembly, final test, qualification, failure analysis and logistics. All services comply with the industrial and quality requirements of the high reliability, aerospace, automotive, healthcare and industrial sectors.
RoodMicrotec’s headquarter is located in Deventer, Netherlands, with operational units in Nördlingen and Stuttgart, Germany.
For more information visit https://www.roodmicrotec.com
Martin Sallenhag - CEO, Arvid Ladega - CFO
Telephone: +31 570 745623 Email: email@example.com Web: www.roodmicrotec.com
This press release is published in English and German. In case of conflict between these versions the English version shall prevail.