Pfleiderer AG
Pfleiderer AG: Creditors and Shareholders Support Insolvency Plan
Pfleiderer AG / Key word(s): Capital Reorganisation 12.09.2012 / 14:54 --------------------------------------------------------------------- Düesseldorf, 12 September, 2012 - At a court-ordered meeting today, a large majority of creditors and shareholders of Pfleiderer AG (ISIN DE0006764749) approved the insolvency plan proposed by the Pfleiderer Board. The voting process was conducted separately by groups: All groups set up during the process approved the plan either unanimously or by a large majority. The creditors approved the plan with an overall majority of 99,46%. Shareholders approved the plan with 99,19% of the votes. As previously announced, the insolvency plan envisages significant debt relief for Pfleiderer AG and recapitalisation by means of a capital reduction to zero and a subsequent capital increase. It also involves the spin-off of companies that will no longer be included in the core business of the future Pfleiderer Group and the payment of an insolvency dividend to unsecured non-subordinated creditors. Under the insolvency plan, shareholders and subordinated creditors will not receive any compensation. Court approval of the plan and the conclusion of insolvency proceedings are expected during the next weeks. About Pfleiderer: The Pfleiderer Group (ISIN DE 0006764749) is one of the world's leading producers of engineered wood. The company employs approximately 4,700 people and operates 16 locations in North America, Western and Eastern Europe producing engineered wood, surface finished products and laminate flooring. Pfleiderer is a preferred partner of the furniture industry, specialist and home improvement stores, and interior design suppliers. In fiscal year 2011, the Group (continued operations) generated preliminary consolidated revenues of approximately EUR1.1 billion. More information at: www.pfleiderer.com Contact persons: Media Brunswick Group GmbH Sabine Morgenthal Tel.: + 49 (0)174 3258886 Christian Weyand Tel.: +49 (0)172 6171677 Analysts/Investors: Lothar Sindel Vice President Investor Relations Tel.: + 49 (0) 211 929 638 20 Fax: + 49 (0) 211 929 638 23 E-mail: lothar.sindel@pfleiderer.com End of Corporate News --------------------------------------------------------------------- 12.09.2012 Dissemination of a Corporate News, 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 23 E-mail: lothar.sindel@pfleiderer.com Internet: www.pfleiderer.com ISIN: DE0006764749 WKN: 676474 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 185060 12.09.2012
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