IMERYS (EPA:NK) - Imerys Group provides update on Chapter 11 process of North American talc entities

Transparency directive : regulatory news

14/10/2021 08:00

PRESS RELEASE
Paris, October 14, 2021

Imerys Group provides update on Chapter 11 process of North American talc
entities

On October 13, 2021, the Court overseeing the North American Chapter 11 cases
issued a ruling that certain ballots cast in favor of the North American talc
entities plan of reorganization (the "Plan") will not be counted. This means
the approval of the Plan now falls just short of the required 75% majority
vote. This ruling is expected to result in a delay to the Chapter 11 timeline,
extending it into 2022.

The Group does not expect this ruling to have any material effect on the
settlement with Imerys SA and its affliates embodied in the Plan, which is in
part already consummated through the sale of the assets of the North American
talc entities to a third party. The representatives of current and future
potential claimants continue to support the settlement with Imerys SA and its
affliates under the terms and conditions currently outlined in the Plan.

The Group continues to consider that the balance of the provision in the
?nancial statements as of the end of 2020 is appropriate to cover the
expected ?nancial impact of the chapter 11 process on Imerys..

The world leader in mineral-based specialty solutions for industry, with EUR3.8
billion revenue and 16,400 employees in 2020, Imerys delivers high value-added,
functional solutions to diversi?ed set of industrial sectors, from processing
industries to consumer goods. The Group draws on its knowledge of applications,
technological expertise and its material science know-how to deliver solutions
based on bene?ciation of its mineral resources, synthetic minerals and
formulations. These contribute essential properties to customers' products and
performance, including refractoriness, hardness, conductivity, opacity,
durability, purity, lightness, ?ltration, absorption and repellency. Imerys
is determined to develop responsibly, in particular by fostering the emergence
of environmentally-friendly products and processes.

Analyst / Investor Relations
Vincent Gouley - +33 (0)1 4955 6469
?nance@imerys.com

Press contacts
Claire Lauvernier : +33 (0)1 4955 6665
Hugues Schmitt (DGM Conseil) : +33 (0)1 4070 1189

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IMERYS (EPA:NK) - Imerys Group provides update on Chapter 11 process of North American talc entities

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