Pfleiderer AG
Pfleiderer AG: Application for release rejected by Higher Regional Court, Frankfurt – Management board prepares to file for insolvency of management holding Pfleiderer AG
Pfleiderer AG / Key word(s): Legal Matter/Insolvency 27.03.2012 18:05 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Neumarkt, March 27, 2012 - The Higher Regional Court, Frankfurt/Main, has rejected the application for release submitted by Pfleiderer Finance B.V., whose corporate bond is exchange listed (ISIN XS0297230368 / WKN A0NTX1), in connection with the lawsuits filed by creditors against the resolutions adopted by the Creditors' Meeting on June 20, 2011. This means that the resolutions adopted with a large majority of votes cannot be implemented as planned. Implementation of the resolutions had been a prerequisite for the agreed waiver of claims by the company's creditors and the capital injection by investors. Therefore, a financial restructuring of Pfleiderer AG (ISIN DE0006764749) is not possible as planned. In accordance with the law, the Management Board of Pfleiderer AG is now preparing to file an application for insolvency for Pfleiderer AG. A petition to institute insolvency proceedings against the assets of Pfleiderer AG would have no direct effect on the operational subsidiaries, as Pfleiderer AG (as parent company) is purely an investment holding company. Consequently, a potential insolvency of Pfleiderer AG would not automatically result in subsequent insolvencies of subsidiaries and would not have any direct impact on the activities of the operational subsidiaries. In the event of an insolvency of Pfleiderer AG, it is planned to implement the key measures of the restructuring plan by way of an insolvency restructuring procedure as debtor in possession [Insolvenzplanverfahren in Eigenverwaltung]. The Pfleiderer AG as the holding company currently has only 10 employees. Contact: Investors/Analysts: Lothar Sindel Vice President Investor Relations Tel.: +49 (0)9181 28 8044 Fax: +49 (0)9181 28 606 E-mail: lothar.sindel@pfleiderer.com Journalists: Brunswick Group GmbH Tel.: + 49 (0) 69 2400 - 5510 Fax: + 49 (0) 69 2400 - 5555 E-Mail: Pfleiderer@brunswickgroup.com 27.03.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Pfleiderer AG Ingolstädter Straße 51 93218 Neumarkt Germany Phone: +49 (0)9181 28 - 8044 Fax: +49 (0)9181 28 - 606 E-mail: lothar.sindel@pfleiderer.com Internet: www.pfleiderer.com ISIN: DE0006764749 WKN: 676474 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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