NYR Nyrstar NV

Regulated Information – Inside Information

Nyrstar provides an update relating to the 2019 annual general shareholders’ meeting and further impairment of the Myra Falls mine

22 June 2019 at 19:00 CEST

Nyrstar NV ("Nyrstar" or the “Company” and, together with its subsidiaries, the “Group”) today announces that it is withdrawing resolutions relating to the financial statements for the financial year ended 31 December 2018 from the proposed agenda and resolutions of the annual general shareholders' meeting. The shareholders’ meeting remains scheduled to commence at 11:00 a.m. CEST on 25 June 2019 at BluePoint, A. Reyerslaan 80, 1030 Brussels, Belgium. The Company will schedule a further shareholders’ meeting to consider the financial statements as soon as its auditor has finished its audit.

The Company notes that the financial statements for the financial year ended 31 December 2018, published on  26 May 2019, included an audit opinion issued in accordance with article 143, §2 of the Belgian Company Code (“non-compliance opinion”) on the basis that certain information requested from the Company was not timely delivered to its auditor.  The Company is continuing to work hard with its auditor to deliver such information to the satisfaction of its auditor with the intention that the auditor will issue its audit opinion once it has received and audited all such information. 

Since the publication of the consolidated financial statements for the financial year ended 31 December 2018 on 26 May 2019, the Company has continued to update the life of mine plan for its Myra Falls mine in Canada.  Changes to the mine plan resulted in lower recoverable amounts for the Myra Falls mine than previously expected. The Company has concluded that it is appropriate to recognise an additional impairment of EUR 30 million for Myra Falls in the 31 December 2018 consolidated financial statements of the Group and has discussed this with its auditor. Consequently, when the 2018 consolidated financial statements of the Group will be reissued, they will include a non-cash, pre-tax impairment loss of EUR 130 million. This impairment loss fully relates to pre-tax impairment losses on Nyrstar’s Mining assets (EUR 117.2 million) at Langlois and Myra Falls and specific asset write-offs in Metals Processing (EUR 11.4 million). The further impairment of Myra Falls has not been a factor in Nyrstar’s delay in re-issuing audited accounts for the financial year ended 31 December 2018.

As communicated in the press release issued by the Company on 20 June 2019, announcing the commencement of the recapitalisation steps, it is noted that the Practice Statement Letter to Scheme Creditors and the Report by the Committee of Independent Directors in accordance with Article 524 of the Belgian Companies Code have been published on Nyrstar’s website at the following address: https://www.nyrstar.com/en/investors/restructuring/scheme-of-arrangement-materials. The Company encourages its stakeholders (including its shareholders) to review these documents as they provide important information about the current situation and the background to it. The Company will continue to publish more information on that website to ensure that the stakeholders are kept informed about developments.

About Nyrstar

Nyrstar is a global multi-metals business, with a market leading position in zinc and lead, and growing positions in other base and precious metals, which are essential resources that are fuelling the rapid urbanisation and industrialisation of our changing world. Nyrstar has mining, smelting and other operations located in Europe, the Americas and Australia and employs approximately 4,100 people. Nyrstar is incorporated in Belgium and has its corporate office in Switzerland. Nyrstar is listed on Euronext Brussels under the symbol NYR. For further information please visit the Nyrstar website: www.nyrstar.com.

For further information

Anthony Simms        Head of Investor Relations                              T: +41 44 745 8157                        M: +41 79 722 2152                                       E: anthony.simms@nyrstar.com Franziska Morroni     Head of Communications                                T: +41 44 745 8295                        M: +41 79 719 2342                                       E: franziska.morroni@nyrstar.com

Attachment

• Nyrstar - 22 June 2019 - AGM removal of accounts (English) FINAL

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