Pfleiderer AG
Pfleiderer AG: Pfleiderer AG discloses insolvency plan
(DGAP-Media / 16.08.2012 / 15:03) Pfleiderer AG discloses insolvency plan - Plans for comprehensive debt relief and recapitalization - Discussion-and-voting meeting of parties involved in the proceedings set for September 12 Düsseldorf, August 16, 2012 -The insolvency plan of Pfleiderer AG was disclosed today following its successful examination by the responsible Düsseldorf District Court. It is thus now accessible for the parties involved in the proceedings. The court has set the date of September 12, 2012 for a discussion-and-voting meeting at which the insolvency plan will be voted upon. The implementation of the plan will essentially lead to the company's comprehensive debt relief and release from financial liabilities, as well as to the creation of a sound capital base. As previously announced on August 3, 2012, the insolvency plan calls for the share capital of Pfleiderer AG to be reduced to zero in order to eliminate the excessive indebtedness in the balance sheet. The share capital will subsequently be increased by means of cash and non-cash contributions. The new shares will be subscribed to exclusively by Atlantik S.A., a holding company specialized incorporate restructuring and domiciled in Luxembourg, which will then be the sole shareholder of Pfleiderer AG. The new shares will not be traded on a stock exchange; in fact, Pfleiderer aims to have its shares delisted. As subordinate creditors, the current shareholders and the holders of the hybrid bond will no longer hold a stake in the company. In the context of the insolvency plan, Atlantik S.A. has undertaken to take over most of the financial liabilities of Pfleiderer AG from its financial creditors and subsequently to relieve the company of most of its debt. Following the implementation of all these measures, Pfleiderer AG would have a sound capital and financing base that would be capable of success in the market. This would create the right conditions to continue and strengthen the upward development in the business operations of the Pfleiderer Group. Stock exchanges: Regulated market in Frankfurt (prime standard); over the counter in Berlin, Düsseldorf, Hamburg, Munich and Stuttgart Contact: Investors/Analysts Lothar Sindel Vice President Investor Relations Tel.: + 49 (0) 211 929 638 20 Fax: + 49 (0) 211 929 638 22 E-mail: lothar.sindel@pfleiderer.com Media Frank Elsner Kommunikation Tel.: + 49 (0) 89 - 99249630 Brunswick Group GmbH Tel.: +49 (0) 211 - 929 638-20 E-Mail:Pfleiderer@brunswickgroup.com End of Media Release --------------------------------------------------------------------- Issuer: Pfleiderer AG Key word(s): Finance 16.08.2012 Dissemination of a Press Release, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. 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 Kennedydamm 55 40476 Düsseldorf Germany Phone: +49 (0) 211 929 638 20 Fax: +49 (0) 211 929 638 22 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 News DGAP-Media --------------------------------------------------------------------- 181955 16.08.2012
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