Recycling SA (Euronext Paris: FR0000120388 – RX) (the “Company “) announces that the Commercial Court of Paris, by judgment of November 9, 2022, has declared the transformation of the company’s receivership proceedings opened by judgment of May 5, 2022^Iin the liquidation process.

This conversion follows the decision of July 6, 2022ⁱⁱ of the Paris Commercial Court to approve a plan for the partial sale of Recylex SA through a “pre-pack sale” procedure in favor of the Belgian company Campine NV.

As a reminder, the partial disposal plan related to the lead and polypropylene recycling activities at the company’s Escaudoeuvres (North) and Villefranche-sur-Saône (Rhône) sites, all jobs related to these sites and Recylex SA’s participation in C2P SAS , 100% owned by the company, for a total selling price of approximately 4 million euros.

Campine has managed the assets and activities included in the scope of sale since July 7, 2022. The resulting deeds of escrow are in the process of regularization.

As a result of this partial sale, Recylex SA’s activity was reduced to a keep consisting of management of heavy financial and environmental liabilities as well as a 50% stake in Recytech SA subject to multiple liensⁱⁱⁱ.

Recylex SA was placed in receivership to examine a legal solution to restructure its debts. In a judgment dated July 13, 2022, the Paris Commercial Court ordered the company’s observation period to be continued until the end, i.e. November 5, 2022.

However, it turned out that Recylex SA no longer generated its own income,…