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TPC Group Inc. Announces Partial Redemption of Its 13% Senior Secured Notes Due 2027

HOUSTON, March 25, 2024 (GLOBE NEWSWIRE) -- TPC Group Inc. (TPC) announced today that it will redeem $ 50 million of its $ 350 million 13% Senior Secured Notes due December 16, 2027 on March 28, 2024. The redemption price of the notes is 101% of par value, or $ 50.5 million. In addition to the redemption price, TPC will pay accrued interest to holders of the redeemed notes in the amount of $ 2,112,500.00.

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Grant of warrants to the Executive Board and Managers at SP Group A/S

Today, the Board of directors decided to establish a warrant agreement for the Executive Board and 39 managers in the Group. The agreement is based on warrants issued pursuant to the Articles of Association, item 5, subsection 5, that empowers the Board of Directors to use this authority. The warrant plan was adopted by the Board of Directors at the General Meeting in 2019. 120,000 warrants will be issued, of which 22,500 are granted the Executive Board and the remaining warrants are granted the Managers.

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Etablering af warrantordning for selskabets direktion og ledende medarbejdere i SP Group A/S

Bestyrelsen har i dag besluttet at etablere en incitamentsordning for selskabets direktion og 39 ledende medarbejdere. Ordningen er baseret på warrants, der udstedes ved bestyrelsens udnyttelse af bemyndigelsen i vedtægternes pkt. 5 stk. 5, der blev givet på generalforsamlingen i 2019, hvor programmet blev forelagt. Der udstedes i alt 120.000 stk., hvoraf direktionen tildeles 22.500 stk., og de resterende tildeles de ledende medarbejdere.

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Annual Report for SP Group A/S 2023

In 2023, SP Group realised a profit before tax of DKK 201.1 million, which is a decrease of 25.1% compared to 2022. EPS decreased by 25.4%. Revenue decreased from DKK 2,656.3 million in 2022 to DKK 2,606.3 million in 2023, corresponding to a decrease of 1.9%. In Q4 2023, a profit before tax and non-controlling interests of DKK 62.0 million was realised, which is a decrease of 5.5% compared to Q4 2022. We noted revenue growth in Q4.

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Årsrapport 2023 SP Group A/S

SP Group realiserede for året 2023 et overskud før skat på DKK 201,1 mio., hvilket var et fald på 25,1 % målt i forhold til 2022. EPS faldt 25,4 %. Omsætningen faldt fra DKK 2.656,3 mio. i 2022 til DKK 2.606,3 mio. i 2023 svarende til et fald på 1,9 %. I 4. kvartal 2023 realiseredes et overskud før skat og minoriteter på DKK 62,0 mio., hvilket er et fald på 5,5 % i forhold til 4. kvartal 2022. Vi havde vækst i omsætningen i 4. kvartal.

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TPC Group Announces Fourth Quarter and Full Year 2023 Earnings to Be Reported on Investor Call Thursday, March 28, 2024

HOUSTON, March 14, 2024 (GLOBE NEWSWIRE) -- TPC Group Inc. today announced that it will host a live investor call to share fourth quarter and full year 2023 earnings on Thursday, March 28 at 10 a.m. ET (9 a.m. CT). The investor call will be available to current noteholders and prospective investors who register on the Investor Portal of TPC Group’s website: www.tpcgrp.com/investors. Consistent with the Company’s 13% Notes indenture, the financial results for the fourth quarter and full year of 2023 will be posted to the Company’s investor portal on Wednesday, March 27 after market close.

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