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

   ══════════════════════════════════════════════════════════════════════════

   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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