Campine NV: Decision in EU investigation Regula
Post# of 301275
Regulatory information - Inside information
Campine - amongst other players in the lead recycling market - has received today the decision of the European Commission regarding an investigation into alleged violation of competition rules in the market of lead recycling.
Throughout the investigation, Campine has co-operated with the Commission in a transparent, professional and comprehensive manner at any time.
Though Campine - as mentioned before - has always acted in line with the European Commission's law and regulations implementing the circular economy strategy, the Commission issued a fine of EUR 8.158.315 to Campine. Extensive information has been brought to the attention of the Commission in order to prove Campine's compliance with the law and regulations.
The fine should not have an impact on the short term continuity and will be integrated in the results of the financial year 2016 which are not yet finalized. No provision was set up in the past - as communicated in the interim financial report of 30 June 2016.
The trading of the Campine share on Euronext Brussels was suspended after the decision.
Campine is in complete disagreement with the decision and will undertake immediate action to appeal against this decision in front of the General Court of Luxembourg.
The company wishes to publicly express its determination to try to continue contributing largely to the growth of the circular economy in Europe and preserving employment in Flanders.
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