Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Covia Successfully Completes Financial Restructuring and Emerges from Chapter 11 Reduced obligations by over $1 billionImproved operational flexibility to better serve customers and other stakeholdersStrengthened competitive position of high-quality assetsEmerges with approximately $175 million of total liquidity INDEPENDENCE, Ohio, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Covia today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through the restructuring, Covia has reduced its long-term debt by approximately $750 million and its fixed cos...
Covia Announces Court Confirmation of its Plan of Reorganization Positions Covia to Emerge from Chapter 11 Process INDEPENDENCE, Ohio, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Covia today announced the United States Bankruptcy Court for the Southern District of Texas, Houston Division, confirmed its Plan of Reorganization. The confirmation order marks a key milestone in the Company’s reorganization process, and the Company anticipates emerging from bankruptcy at the end of 2020. "We are pleased with the results of this hearing, and thank our employees, customers, vendors, lenders and creditor...
Covia to Hold Virtual Annual Meeting of Stockholders INDEPENDENCE, Ohio, April 24, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, announced today that it will hold a virtual Annual Meeting of Stockholders on May 21, 2020 (“Annual Meeting”) due to the public health impact of the COVID-19 pandemic and to support the health of its stockholders, directors, employees and community. The Annual Meeting will be held on the same date and time as originally scheduled, May 21, 2020 at 8:00 a.m. EDT, and will ...
Covia Receives Continued Listing Standard Notice From NYSE INDEPENDENCE, Ohio, April 14, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA) announced that, on April 8, 2020, it received notification from the New York Stock Exchange (“NYSE”) that the Company is no longer in compliance with NYSE continued listing standards, which require listed companies to maintain an average closing share price of $1.00 over a consecutive 30 trading-day period. In accordance with NYSE rules, Covia has six months from receipt of the notice to regain compliance with the NYSE’s minimum share price requirement. Covi...
Covia Announces Actions In Response To COVID-19 Pandemic And Disruptions In The Global Oil And Gas Markets INDEPENDENCE, Ohio, April 14, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, announced a series of actions taken recently to strengthen safety protocols, reduce capacity and lower costs. These actions have been taken in light of the challenges caused by the COVID-19 pandemic and recent dislocations in global oil markets. These actions include: Developed and implemented a series of guidelines a...
Rating Action: Moody's downgrades Covia's Corporate Family Rating to Caa1; outlook changes to negative. Global Credit Research- 31 Mar 2020. New York, March 31, 2020-- Moody's Investors Service today downgraded Covia Holdings Corporation's Corporate Family Rating to Caa1 from B3, Probability of Default Rating to Caa1-PD from B3-PD and the rating on the company's senior secured credit facility to Caa1 from B3.
Update: Dial–In Information for Fourth Quarter and Full Year 2019 Earnings Call INDEPENDENCE, Ohio, March 10, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), updated the dial-in information for its fourth quarter and full year 2019 earnings call taking place today. Investors are invited to listen to a live audio webcast of the conference call today at 8:30 a.m. Eastern Time by visiting the Investor Relations section of the Company's website, . The webcast will be archived on the website following the call. The call can also be accessed live by dialing (877) 273-6113 or, for international ...
Covia Announces Fourth Quarter and Full Year 2019 Results Sold 6.6 million tons in the fourth quarter of 2019 and 30.5 million tons for full year 2019Generated cash flow from operating activities of $35 million in the fourth quarter of 2019 and $104 million for full year 2019Reported 2019 net loss of $1.3 billion driven by $1.4 billion impairment of Energy assets; 2019 Adjusted EBITDA of $143 millionReduced net debt by $256 million in 2019Resumed major Canadian nepheline syenite expansion and modernization project, and completed Canoitas, Mexico expansion INDEPENDENCE, Ohio, March 10, 202...
Covia DST™ Dust-Suppression Technology Gaining Significant Momentum with Industry-Leading Companies Breakthrough technology reducing potential exposure to silica dust during product manufacturing LAS VEGAS, Feb. 04, 2020 (GLOBE NEWSWIRE) -- announces today that DST™ dust-suppression technology is gaining significant momentum with industry-leading companies that use whole-grain silica sand in their manufacturing processes. These companies—committed to environmental, social, and governance (ESG) standards—are choosing the breakthrough technology as part of their engineering control plan ...
Covia Announces Timing of Fourth Quarter and Full Year 2019 Earnings Release and Conference Call INDEPENDENCE, Ohio, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA) announced today that it expects to release its fourth quarter and full year 2019 earnings before the New York Stock Exchange opens on Tuesday, March 10, 2020. The Company will hold a conference call for investors on March 10, 2020 at 8:30 a.m. Eastern Time. The call will be hosted by Richard Navarre, Chairman, President and Chief Executive Officer, and Andrew Eich, Executive Vice President and Chief Financial Officer. Inv...
Covia Announces Actions Designed to Improve Financial Flexibility INDEPENDENCE, Ohio, Dec. 31, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, today announced a series of actions that are expected to improve its financial flexibility: $85 Million Committed Standby Credit Facility - The Company has received a commitment from PNC Bank, National Association for a new, 3-year credit facility for up to $85 million. The new facility is expected to bear interest of LIBOR plus 1.75% and be secured by the Co...
Covia Repurchases $63 Million of Debt at Substantial Discount to Par INDEPENDENCE, Ohio, Dec. 17, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, today announced that it has successfully repurchased $62.9 million of its term loan at 76.8% of par, resulting in a cash outlay of $48.3 million, exclusive of fees. Following the closing of the repurchase, the Company had $343.5 million in cash. The Company expects to recognize a pre-tax gain of $13.4 million in the fourth quarter of 2019 related to this ex...
Rating Action: Moody's downgrades Covia's Corporate Family Rating to B3; outlook to stable. Global Credit Research- 26 Nov 2019. New York, November 26, 2019-- Moody's Investors Service today downgraded Covia Holdings Corporation's Corporate Family Rating to B3 from B1, Probability of Default rating to B3-PD from B1-PD, and the senior secured credit facility rating to B3 from B1.
Covia Announces Third Quarter 2019 Results Sold volumes of 7.8 million tons, down 5% sequentially Grew Industrial gross profit 4%, up 11% excluding the impact of asset salesReported net income from continuing operations of $54 million Generated Adjusted EBITDA of $43 million INDEPENDENCE, Ohio, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA), a leading provider of mineral-based material solutions for the Industrial and Energy markets, today announced results for the third quarter ended September 30, 2019. As a result of the merger that closed on June 1, 2018, Covia’s 2018 reported re...
UPDATE: Covia Announces 8:00 A.M. E.T. Start for Third Quarter 2019 Earnings Conference Call INDEPENDENCE, Ohio, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA) has updated the timing of its third quarter 2019 earnings conference call for investors on November 6, 2019 to 8:00 a.m. Eastern Time from 8:30 a.m. All other aspects of the call remain unchanged and earnings will still be released before the New York Stock Exchange opens on November 6, 2019. Investors are invited to listen to a live audio webcast of the conference call by visiting the Investor Relations section of the Compa...
Covia Announces Timing of Third Quarter 2019 Earnings Release and Conference Call INDEPENDENCE, Ohio, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Covia (NYSE:CVIA) announced today that it expects to release its third quarter 2019 earnings before the New York Stock Exchange opens on Wednesday, November 6, 2019. The Company will hold a conference call for investors on November 6, 2019 at 8:30 a.m. Eastern Time. The call will be hosted by Richard Navarre, Chairman, President and Chief Executive Officer, and Andrew Eich, Executive Vice President and Chief Financial Officer. Investors are invited to li...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Covia Holdings Corporation. Global Credit Research- 02 Oct 2019. New York, October 02, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Covia Holdings Corporation and other ratings that are associated with the same analytical unit.
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