EQS-Adhoc: Airopack Technology Group AG: Update on Enforcement of Pledge over Shares in I.P.S.B.V.

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Airopack Technology Group - Update on Enforcement of Pledge over Shares in I.P.S.B.V.

 

Baar, 8 March 2019 - Airopack Technology Group AG ("Airopack") announced today that the Dutch court has granted permission for the enforcement of the pledge over the shares in its indirect Dutch subsidiary I.P.S. B.V. as requested by the major lenders. The court further declared that today's decision is immediately enforceable notwithstanding appeal. Under Dutch procedural laws, an appeal of such a decision is only possible in extraordinary circumstances. Accordingly and as anticipated in the press release dated 14 February 2019, Airopack Technology Group AG and its direct subsidiary I.P.S. Holding B.V. will now be separated from the operating subsidiaries of Airopack Group. Based on the valuation of the operating subsidiaries as approved by the Dutch court, the pledgor I.P.S. Holding B.V. will not receive any proceeds from the enforcement and guarantee liabilities remain outstanding towards the major lenders by Airopack Technology Group AG and I.P.S. Holding B.V.

Airopack is continuing discussions with major lenders to seek a full release of such guarantee liabilities which is an important element in Airopack's efforts to exit the provisional composition moratorium.

The board of directors will provide further updates as needed.

Contacts:

Airopack Technology Group AG
Antoine Kohler, Chairman

Blegistrasse 5/1 OG
CH-6340 Baar
TF: +41 41 768 50 50
www.airopackgroup.com

For investors:
Airopack Technology Group AG

Martin Eberhard
[email protected]
TF: +41 79 209 77 50

For media:
Tolxdorff Eicher Kollektivgesellschaft

Daniel Eicher / Theresia Tolxdorff
[email protected]
TF: +41 44 718 25 25

The Company Airopack Technology Group AG is a leading developer and supplier of mechanical and pressure-controlled dispensing packaging technologies and systems for manufacturers and suppliers of cosmetics, body care, pharmaceutical and food products. The revolutionary and worldwide and solely by ATG patented Airopack(R) technology offers a safe, all-plastic pressurized dispenser that is environmentally and planet friendly Airopack Technology Group operates a Airopack Ready to Fill manufacturing facility in Waalwijk, The Netherlands and a Full-Service Filling operation in Heist-op-den-Berg Belgium (Airosolutions) as well as a manufacturing plant for filling equipment in Houten, The Netherlands (Airofiller Equipment Solutions), The Global Research and Development Team, the Airopack Global Management and Customer Service Organisation are located in Waalwijk, The Netherlands. The shares of the company are listed on the Swiss Reporting Standard of the SIX Swiss Exchange since 2010. (Ticker: AIRN / ISIN: CH0242606942). Disclaimer This Ad Hoc Release / Press Release may contain certain forward-looking statements. In some cases forward looking statements can be identified by the use of terms such as "believes", "enables", "estimates", "anticipates", "projects", "expects", "intends", "may", "will", "seeks" or "should" or variations thereof, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements. The success or achievement of various results, targets and objectives is dependent upon a multitude of factors, many of which are beyond the control of Airopack. No representations are made as to the accuracy of such statements or that such results, targets or objectives will be realized.

www.airopackgroup.com