The immediate effect of this solution is that all judicial proceedings against the subsidiaries have been suspended, as well as the liquidation process, said Rockwell.
According to representatives of Rockwell, placing the company's subsidiaries into administration confirms the real prospects of the salvation of the full and final closure, as well as a return to long-term profitability.
Professional managers of Metis Strategic Advisors have been appointed to oversee the Rockwell subsidiary companies, working together with the management of miners to remedy the state of business and the preparation of the business plan of salvation in order to return to commercial production.
"The company's strategy remains unchanged: we intend to complete the expansion of the mine Vouterspen (Wouterspan) to full production and the possibility to evaluate and implement further production enhancement measures", - stated in the Rockwell.
"There will be a strategic analysis of all the assets and capacity to evaluate their short-term costs, which can accelerate the repayment of loans and provide sufficient capital to return to normal commercial operations, where it is necessary", - added in the company.
Rockwell is now going to sue criminal and civil lawsuits against the C-Rock Mining Limited (CML) and certain persons involved in the business of CML.
CML claimed that Rockwell owed her money on disputed invoices, as well as for the reimbursement of tax penalties and other construction costs.
Three subsidiaries of Rockwell CML disputed claims.
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CEO of Signet Mark Layt (Mark Light) remain confident in the company's future despite the fact that the 2017 financial year was definitely fraught with some problems.
Signet progress in achieving its strategic priorities in the 2017 fiscal year, combined with the stability of the jewelry industry and strong fundamentals of the company are clear evidence of the fact that its customer strategy is correct, add the company.
Signet over the past five years has increased the overall average annual sales growth of 15%.
According to the report for the Signet 2017, during the year the company managed to achieve a number of important achievements. Key product brands and categories, such as Ever Us, Neil Lane, Vera Wang LOVE, Endless Brilliance, Chosen and bracelets, necklaces and earrings, sold very well.
In addition, the Piercing Pagoda - a shop located in shopping malls, sales growth was recorded at 6.6%, primarily jewelry with diamonds and 14-carat gold. Kay stores on shopping streets have also shown relatively good results.
Efficient cost management ensured Signet increase operating margins by 120 basis points. The Company generated free cash flow of $ 400 million, compared with last year representing an increase of $ 184 million. Signet's ensure the implementation of its tasks, the merger through acquisition of Zale and improve operational efficiency, which helped protect the company from a significant decline in the retail trade.
Signet has provided significant capital to its shareholders due to dividend payments and share buybacks, increased its quarterly dividend for the sixth consecutive year.
Thus, Signet finished the year with a substantial liquidity and an attractive dividend yield.
Signet attracted strategic investment of $ 625 million from the well-known investment firm Leonard Green & Partners, which was a significant manifestation of confidence in the operational model Signet and its long-term growth prospects.
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