March 25, 2020 / 6:00 PM / 3 days ago

BRIEF-Accell Group Withdraws Dividend Proposal

March 25 (Reuters) - ACCELL GROUP NV:

* WITHDRAWS DIVIDEND PROPOSAL

* WE HAVE DRAWN EUR 50 MILLION UNDER EXISTING ACCORDION FACILITY TO OUR TERM LOAN (INCREASING IT TO EUR 125 MILLION)

* ACCELL GROUP INTENDS TO PROCEED WITH ITS ANNUAL GENERAL MEETING (AGM) ON 22 APRIL 2020 AS SCHEDULED

* DELAY IN COMPONENT DELIVERY FROM ASIA COMBINED WITH EFFECT OF LOCKDOWNS HAS CAUSED US TO PROACTIVELY CUT COSTS AND MANAGE FOR CASH

* WE ENCOURAGE SHAREHOLDERS NOT TO ATTEND THIS AGM IN PERSON BUT TO FOLLOW IT THROUGH OUR LIVE WEBCAST AND TO EXERCISE THEIR VOTING RIGHTS BY GIVING A PROXY

* PARTS AND ACCESSORIES BUSINESS HAS NOT BEEN AFFECTED Source text: bit.ly/39g6odZ Further company coverage: (Gdansk Newsroom)

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