Official Announcement: Fulfilment of Obligations and Balance Settlement.

Official Announcement: Fulfilment of Obligations and Balance Settlement.

Jun 5

Written By Parx Materials

ROTTERDAM, 5 June 2024 - After careful consideration and unanimous resolution by the Management Board, Parx Materials N.V. announces the fulfilment of its obligations towards Venor B.V. and Quercus S.r.l.

As part of this resolution, Parx Materials N.V. has authorized issuing 744,145 shares in its capital to Venor B.V. and 500,000 shares to Quercus S.r.l. at an issue price of EURO 0.20 per share. These shares will be paid by forfeiting the due balances owed by Parx Materials NV to Venor B.V. and Quercus S.r.l. for an open debt and unpaid management fees accrued over the past years.

This strategic decision not only solidifies our commitment to our agreements but also marks a significant step in streamlining our financial operations. By eliminating a long past due balance of EUR 248,829 from our accounts, Parx Materials N.V. reinforces its financial stability and positions itself for continued growth and success.

We extend our gratitude to Venor B.V. and Quercus S.r.l. for their collaboration and look forward to further mutually beneficial partnerships.

For more information:

Investor Relations

administration(at)parxmaterials.com
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Parx Materials