EQS-Adhoc: PIERER Mobility AG: Restructuring plan of KTM AG accepted by creditors

EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Financing
PIERER Mobility AG: Restructuring plan of KTM AG accepted by creditors

25-Feb-2025 / 13:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group.
The issuer is solely responsible for the content of this announcement.

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Ad hoc notification pursuant to Article 17 of Regulation (EU) No 596/2014
(MAR)

Ad hoc announcement pursuant to Art. 53 LR

 

Wels, February 25, 2025

 

PIERER Mobility AG: Restructuring plan of KTM AG accepted by creditors

 

• Cash quota of 30%, payable by May 23, 2025
• Liquidity of EUR 50 million secured for the ramp-up of production in
March 2025

 

KTM AG, a wholly owned subsidiary of PIERER Mobility AG, applied for court
restructuring proceedings with self-administration on November 29, 2024.
The aim of the proceedings was to agree on a restructuring plan with the
creditors within 90 days.

 

At today’s restructuring plan meeting, the creditors accepted the
restructuring plan submitted by KTM AG. This plan provides for creditors
to receive a cash quota of 30% of their claims in the form of a one-off
payment (cash quota). In order to fulfil the quota of 30%, KTM AG must
deposit an amount of EUR 548 million with the restructuring administrator
by May 23, 2025 at the latest. The court will then confirm the
restructuring plan at the beginning of June 2025 and the restructuring
proceedings of KTM AG will end once it becomes legally binding.   

 

To enable production to be ramped up again gradually from mid-March 2025,
KTM AG will be provided with financial resources totaling EUR 50 million
from the extended circle of shareholders. With the approval of the
reorganisation plan, this amount will now be transferred to KTM AG to
cover the costs of the phased resumption of production in March 2025. The
planned full capacity utilisation of the four production lines in
single-shift operation is to be achieved within three months.

 

 

Legal Notice

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A
SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT
IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

 

 

For further information:

Investor Relations

Hans Lang & Melinda Busáné Bellér

Tel: +43 676 4140945 or +43 676 4093711

Email: ir@pierermobility.com

Website:[1] https://www.pierermobility.com

 

ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker
Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI

End of Inside Information

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25-Feb-2025 CET/CEST News transmitted by EQS Group. www.eqs.com

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Language: English
Company: PIERER Mobility AG
Edisonstrasse 1
4600 Wels
Austria
Phone: +43 (0) 7242 69 402
E-mail: ir@pierermobility.com
Internet: www.pierermobility.com
ISIN: AT0000KTMI02
WKN: A2JKHY
Listed: SIX, Vienna Stock Exchange
EQS News ID: 2091081

Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI

 
End of Announcement EQS News Service

2091081  25-Feb-2025 CET/CEST

References

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