Ferroglobe PLC (GSM)
Chart Events
Performance Outlook
| Previous Close | 3.4850 |
| Open | 3.5400 |
| Bid | 3.4000 x 2200 |
| Ask | 3.6500 x 2200 |
| Day's Range | 3.4000 - 3.5600 |
| 52 Week Range | 0.4000 - 4.4900 |
| Volume | 605,229 |
| Avg. Volume | 2,846,162 |
| Market Cap | 580.219M |
| Beta (5Y Monthly) | 3.01 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -1.1300 |
| Earnings Date | Mar 01, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | Sep 04, 2018 |
| 1y Target Est | N/A |
Fair Value
Related Research
- GlobeNewswire
Extension of Consent Fee Deadline under the Lock-Up Agreement dated March 27, 2021
LONDON, April 15, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (the “Company”) refers to the Company’s release on March 28, 2021 regarding the lock-up agreement dated March 27, 2021 (the “Lock-Up Agreement”) between the Company and certain financial stakeholders. The Company is pleased to announce that holders of over 92% by value of the 9.375% Senior Notes due 2022 issued by the Company and Globe Specialty Metals, Inc (the “2022 Senior Notes”) have signed or acceded to the Lock-Up Agreement. At over 92%, the current level of support exceeds the threshold required to proceed by way of a scheme of arrangement and is close to the level required to implement the transaction by way of an exchange offer. In light of this, the Company has agreed an extension of the Consent Fee Deadline to 5 p.m. (New York) / 10 p.m. (London) on Monday April 19, 2021 in order to allow holders of the 2022 Senior Notes that have not yet acceded to the Lock-Up Agreement to do so. Holders of the 2022 Senior Notes that have not yet signed the Lock-Up Agreement may contact the Information Agent at ProjectFox@glas.agency to access further information relating to the transaction and for details of how to accede to the Lock-Up Agreement. Noteholders may only become eligible for the 1% Early Cash Consent Fee (or, to the extent the transaction is implemented using an Exchange Offer and Covenant Strip, the 2% Early Equity Fee) by signing the Lock-Up Agreement and holding 2022 Senior Notes that became locked-up notes on or prior to the Consent Fee Deadline of 5 p.m. (New York) / 10 p.m. (London) on Monday April 19, 2021 About Ferroglobe Ferroglobe is one of the world’s leading suppliers of silicon metal, silicon-based and manganese-based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. For more information, visit http://investor.ferroglobe.com. Forward-Looking Statements This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Ferroglobe’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “will” and words of similar meaning or the negative thereof. Forward-looking statements contained in this press release are based on information currently available to Ferroglobe and assumptions that management believe to be reasonable but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control. All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release. No offer This press release is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities in the United States or in any other jurisdiction. The securities referenced in this press release may not be offered, sold, exchanged or delivered in the United States absent registration or an applicable exemption from the registration requirement under the U.S. Securities Act of 1933, as amended. This press release is not directed at, or intended for distribution, publication, availability to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law or regulation, or which would require any registration or licensing within such jurisdiction. Summary only This press release is intended as a summary only, and holders of 2022 Senior Notes should refer to the additional details of the terms of the New $40 Equity, the New $60m Notes and the Reinstated $350m Notes set forth in the Company’s press release on March 28, 2021, and the detailed terms set out in the Lock-Up Agreement. INVESTOR CONTACT: Gaurav Mehta Executive Vice President - Investor Relations investor.relations@ferroglobe.com MEDIA CONTACT: Cristina Feliu Roig Executive Director – Communications & Public Affairs corporate.comms@ferroglobe.com Source: Ferroglobe PLC
- GlobeNewswire
Consent Fee Deadline under the Lock-Up Agreement dated March 27, 2021
LONDON, April 12, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (the “Company”) refers to the Company’s release on March 28, 2021 regarding the lock-up agreement dated March 27, 2021 (the “Lock-Up Agreement”) between the Company and certain financial stakeholders. Holders of the 9.375% Senior Notes due 2022 issued by the Company and Globe Specialty Metals, Inc that have not yet signed the Lock-Up Agreement may contact the Information Agent at ProjectFox@glas.agency to access further information relating to the transaction and for details of how to accede to the Lock-Up Agreement. Noteholders may only become eligible for the 1% Early Cash Consent Fee (or, to the extent the transaction is implemented using an Exchange Offer and Covenant Strip, the 2% Early Equity Fee) by signing the Lock-Up Agreement and holding 2022 Senior Notes that became locked-up notes on or prior to the Consent Fee Deadline of Thursday April 15, 2021 About Ferroglobe Ferroglobe is one of the world’s leading suppliers of silicon metal, silicon-based and manganese-based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. For more information, visit http://investor.ferroglobe.com. Forward-Looking Statements This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Ferroglobe’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “will” and words of similar meaning or the negative thereof. Forward-looking statements contained in this press release are based on information currently available to Ferroglobe and assumptions that management believe to be reasonable but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control. All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release. No offer This press release is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities in the United States or in any other jurisdiction. The securities referenced in this press release may not be offered, sold, exchanged or delivered in the United States absent registration or an applicable exemption from the registration requirement under the U.S. Securities Act of 1933, as amended. This press release is not directed at, or intended for distribution, publication, availability to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law or regulation, or which would require any registration or licensing within such jurisdiction. Summary only This press release is intended as a summary only, and holders of 2022 Senior Notes should refer to the additional details of the terms of the New $40 Equity, the New $60m Notes and the Reinstated $350m Notes set forth in the Company’s press release on March 28, 2021, and the detailed terms set out in the Lock-Up Agreement. INVESTOR CONTACT: Gaurav Mehta Executive Vice President - Investor Relations investor.relations@ferroglobe.com MEDIA CONTACT: Cristina Feliu RoigExecutive Director – Communications & Public Affairs corporate.comms@ferroglobe.com Source: Ferroglobe PLC
- GlobeNewswire
Ferroglobe Engages with the European Works Council on Proposals to Optimize Its Asset Footprint and Enhance Competitiveness in Europe
LONDON, March 29, 2021 (GLOBE NEWSWIRE) -- Ferroglobe PLC (Nasdaq:GSM) (the “Company”), one of the world’s leading producers of silicon metal, silicon-based alloys and manganese-based specialty alloys, announced today that it has engaged with the European Works Council (“EWC”) to discuss details of proposals for an asset optimization program designed to safeguard its long-term future in Europe. Through this process, the Company is seeking to reduce or cease production at some of its sites in Europe. Through a broader strategic turnaround plan, Ferroglobe seeks to enhance its financial position and overall competitiveness and ensuring the optimal asset footprint is a critical pillar driving this strategy. During the meeting, which marked the official start of the workers council consultation process with the EWC, Ferroglobe shared initial proposals about its strategic plan. This plan is focused on several areas for improvement, including: Adjusting our asset footprint to align production capacities and demand by focusing on the most technically advanced, operationally flexible and financially competitive sites;Focusing on the sites which support the broader commercial strategy and shift in product mix;Deploying resources at sites which provide significant opportunity to make further production cost improvements to ensure competitiveness through the cycle; andTrimming down costs with further efficiency and reduction in overhead. The planned adjustment of production capacity is a further step to adjust our fixed cost structure and is a continuation of similar actions that have recently been taken in the United States and Norway to curtail or permanently stop production. While we are scaling back our overall production capacity, this effort ensures greater utilization at our remaining assets, which contributes to the improved production costs. The future asset footprint ensures sufficient capacity to serve expected demand levels, and meet our customer’s specific needs. Marco Levi, Ferroglobe’s Chief Executive Officer commented, “The commencement of our discussion with the European Works Council comes after months of in-depth analysis and deliberation around the optimal asset footprint for Ferroglobe to provide profitability and competitiveness through the cycle. Potential adjustment to our production, subject to a social procedure with the EWC, supports our objective of bolstering our overall cost position and ability to service customers more competitively across Europe.” Dr. Levi added, “In order to turn around Ferroglobe, we have to take some actions that are difficult, yet necessary. Our financial performance over the past few years highlights the need for change and the actions we are proposing are critical steps in turning around the Company, both operationally and financially. We are confident that the proposed actions will make our business stronger and secure a successful future for our platform in Europe.” About Ferroglobe Ferroglobe is one of the world’s leading suppliers of silicon metal, silicon-based and manganese-based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. For more information, visit http://investor.ferroglobe.com. Forward-Looking Statements This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Ferroglobe’s future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “forecast”, “guidance”, “intends”, “likely”, “may”, “plan”, “potential”, “predicts”, “seek”, “will” and words of similar meaning or the negative thereof. Forward-looking statements contained in this press release are based on information currently available to Ferroglobe and assumptions that management believe to be reasonable but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control. All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward- looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release. INVESTOR CONTACT:Gaurav MehtaExecutive Vice President - Investor Relationsinvestor.relations@ferroglobe.com MEDIA CONTACT:Cristina Feliu RoigExecutive Director – Communications & Public Affairscorporate.comms@ferroglobe.com
