Corporate News, 02.07.2014
Setfortrading S.L.

The Board of Directors at Setfortrading S.L., Leioa, Spain, who is a 45% shareholder of Tamarix Noa S.L., has announced today that Setfortrading reclaims back 55% of the shares of Tamarix Noa S.L. from Norwich S.a.r.l. (a 74.9% subsidiary company of Metalcorp Group B.V.). The shares have to be transferred back to Setfortrading by July 3rd, 2014. Reasoning for the reclaim is the partial non-performance of Norwich in relation to the share purchase agreement of the 55% equity stake in Tamarix Noa S.L.

Background information: In 2012 Setfortrading has purchased 100% of the shares of the copper recycling plant Tamarix Noa S.L. in Bilbao, Spain (former Euro Metall Recycling S.L.). In order to secure the long-term financing of the raw material and to market the finished products, Setfortrading was looking for a qualified investor which was found. For that reason Setfortrading sold 55% of the shares of Tamarix to Norwich S.a.r.l. Due to the partial non-performance of Norwich S.a.r.l. the shares are claimed back by Setfortrading until July 3rd, 2014.

SETFORTRADING, S.L.
Alfonso Bereincua Gandarias
p.p. (power of attorney)