Nyrstar NV – The Court of Appeal upholds the dismissal of the appointment committee of company law experts and the termination of the investigation of company law experts

Nyrstar

Nyrstar NV – The Court of Appeal upholds the dismissal of the appointment committee of company law experts and the termination of the investigation of company law experts

November 18, 2022 at 7:00 a.m. CET

Regulated information – privileged information

Nyrstar NV (the “Company”) today provides an update on the appeal proceedings regarding a first judgment dated 30 October 2020 (the “Initial Judgment”) and two subsequent judgments dated 2 July and 9 November 2021 (the “Judgments”) of the President of the Enterprise Court of Antwerp (Antwerp division).

The Court of Appeal of Antwerp confirmed the revocation of the appointment of the college of experts in company law and the judgment of the expertise.

Background
As mentioned in the Company’s press release of October 30, 2020, in its Original Judgment, the President of the Company Court of Antwerp (Antwerp Division) has appointed a panel of company law experts to investigate certain Company transactions. On December 15, 2020, the Company appealed the initial judgment to the Antwerp Court of Appeal.

On February 4, 2021, Trafigura PTE Ltd. and Trafigura Group PTE Ltd. filed a third party claim against the initial judgment. The Company and the original plaintiff shareholders were also involved in these proceedings. In this third party opposition procedure, a first Judgment was rendered on July 2, 2021, as indicated in the Company’s press release of July 5, 2021. In this judgment, the President of the Enterprise Court of Antwerp (division of Antwerp) ordered the original plaintiff shareholders to produce to the court a complete outline of their transactions in the shares of the Company. On November 9, 2021, as indicated in the Company’s press release of November 9, 2021, the President of the Enterprise Court of Antwerp (Antwerp division) rendered a second Judgment in this warranty claim procedure. In this decision, the President declared the proceedings against Trafigura PTE Ltd founded. and Trafigura Group PTE Ltd. and revoked the original judgment vis-à-vis Trafigura PTE Ltd, Trafigura Group PTE Ltd, the company and the original claimant shareholders, thereby revoking the appointment of the experts and stopping the expert appraisal. On December 23, 2021, the original claimant shareholders as well as certain newly intervened claimant shareholders appealed the judgments to the Antwerp Court of Appeal.

Both appeals were dealt with at the hearing on October 6, 2022.

On November 17, 2022, the Antwerp Court of Appeal delivered its judgment in these appeals. In this judgment, the Court of Appeal declared the appeal proceedings brought by the plaintiff shareholders to be unfounded and confirmed the Judgment of November 9, 2021, thus ordering the revocation of the constitution of the formation of experts in corporate law. companies and the judgment of the expertise. . The Court of Appeal found that there was no indication that the interests of the Company would be seriously threatened, therefore an expert investigation is not justified. The Court of Appeal also joined the proceedings concerning the Company’s appeal against the initial judgment and confirmed that this appeal no longer had any purpose given its judgment. Finally, the Court of Appeal ordered the parties to bear their own costs and ordered the plaintiff shareholders to reimburse 50% of the costs incurred by Nyrstar in connection with the expert investigation.

The Company is currently analyzing this new judgment with its legal advisers.

A detailed overview of the ongoing proceedings is available on the Company’s website at: https://www.nyrstarnv.be/en/investors/restructuring/summary-of-ongoing-proceedings.

About Nyrstar SA

The Company is incorporated in Belgium and listed on Euronext Brussels under the symbol NYR. For more information, please visit the Nyrstar NV website: www.nyrstarnv.be

For more information, contact:

Anthony Simms – Head of External and Legal Affairs [email protected]

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