AI assistant
Polytec Holding AG — Capital/Financing Update 2009
Apr 30, 2009
754_iss_2009-04-30_005dffb9-5f6e-4e68-a699-733517092f64.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
keywords: Strategic management decisions/Company Information
EANS-Adhoc: Polytec Holding AG / Agreement in principle reached about POLYTEC after nightly marathon negotiations
--------------------------------------------------------------------------------
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
--------------------------------------------------------------------------------
30.04.2009
After the acquisition of PEGUFORM GROUP, which was temporary financed by short term loans, POLYTEC Holding AG got into a financial disorder, as a repayment in time was uncertain. That circumstance was mainly caused by the immediately occurred financial crisis after the closing of the acquisition.
Objective of the following negotiations with involved banks (Raiffeisenlandesbank OÖ, Oberbank, Unicredit Bank Austria, Investkredit AG, BAWAG) was, to ensure the continuity of the Group without insolvency.
During intensive negotiations, an agreement without insolvency has been achieved, which requires the final approval of each board. This will happen within the next couple of days. Further information about the agreement and the further proceeding will be disclosed by POLYTEC Holding AG after the final approvals.
Further inquiry note: Manuel TAVERNE POLYTEC GROUP Investor Relations Tel.+43(0)7221/701-292 [email protected]
| emitter: | Polytec Holding AG |
|---|---|
| Linzer Straße 50 | |
| A-4063 Hörsching | |
| phone: | +43 (0) 7221 / 701-0 |
| FAX: | +43 (0) 7221 / 701-0 |
| mail: | [email protected] |
| WWW: | www.polytec-group.com |
| sector: | Industrial Components |
| ISIN: | AT0000A00XX9 |
| indexes: | ATX Prime |
| stockmarkets: official market: Wiener Börse AG | |
| language: | English |