29.11.2018 SKW Stahl-Metallurgie Holding AG  DE000SKWM021

SKW: insolvency plan can now be executed


 


DGAP-Media / 29.11.2018 / 16:24

By release procedure, the Appellate Court Munich (Landgericht München) rejects two complaints against the approval of the insolvency plan and thereby clears the way


Munich, November 29, 2018 - The way to achieve a financial restructuring of SKW Stahl-Metallurgie Holding AG is now cleared: By decision in date November 28, 2018 the Appellate Court Munich (Landgericht München) has rejected the last pending of two complaints filed against the confirmation of the insolvency plan by the competent insolvency court on August 14, 2018, by granting the motions of relief according to sec. 253 para. 4 Insolvency Code, as requested by the Company. Basically, this provision allows to reject a complaint in an expedited proceeding, if the disadvantages of further delaying the execution of the insolvency plan prevail.

Thereby the insolvency plan comes into force and can be executed. The plan determines all measures for the financial restructuring of the Company. Current shareholders exit the Company by transfer of their shares to the US investor Speyside Equity. Furthermore, after a capital decrease to zero, the insolvency plan provides for a swap of a major part of credit claims acquired by the Speyside Equity into equity of SKW Holding.

With the implementation of these capital-related measures, SKW's shares will become delisted (DE000SKWM021). For all non-subordinated insolvency creditors, the insolvency plan provides for full economic satisfaction of 100% of their respective claims.

Dr. Kay Michel, CEO of SKW: "I am very pleased that the court has accepted our motion of release and the irresponsible legal delaying tactics of a group of shareholders surrounding the chairman of the supervisory board Dr. Olaf Marx have thus been stopped. Now we will finally have again a positive equity and a gearing-rate in accordance with market standards. Because SKW Group is operating in a very challenging market environment, which requires our full attention we have to focus again on business challenges and intensify our look ahead."

Contact
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Telefon: +49 89 99 24 96 30
E-Mail: office@elsner-kommunikation.de
Internet: www.skw-steel.com

About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group
The SKW Metallurgie Group is a global market leader for chemical additives for hot metal desulphurization and for cored wire and other products for secondary metallurgy. The Group's products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US, Canada, Mexico, Brazil, South Korea, Russia, the Peoples' Republic of China and India (joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange's Prime Standard since December 1, 2006; since 2011 (conversion to name shares) with ISIN DE000SKWM021.

Disclaimer

This press release may include certain forward-looking statements which are based on currently available assumptions and predictions of the SKW Metallurgie Group's management as well as on other currently available information. Various identified as well as unidentified risks and uncertainties as well as other factors may result in a deviation of actual results, financial situation, development or achievement of the company compared to the assessments made herein. SKW Stahl-Metallurgie Holding AG does not intend and assumes no liability to update such forward-looking statements and to adjust them to future events and developments.

 




Contact:
Frank Elsner
Telefon: +49 89 99 24 96 30
E-Mail: office@elsner-kommunikation.de


End of Media Release


Issuer: SKW Stahl-Metallurgie Holding AG


29.11.2018 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: SKW Stahl-Metallurgie Holding AG
Prinzregentenstr. 68
81675 München
Germany
Phone: +49 (0)89 5998923-0
Fax: +49 (0)89 5998923-29
E-mail: info@skw-steel.com
Internet: www.skw-steel.com
ISIN: DE000SKWM021
WKN: SKWM02
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

 
End of News DGAP Media

752907  29.11.2018 

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Die wichtigsten Finanzdaten auf einen Blick
  2012 2013 2014 2015 2016 2017 2018 2019e
Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer:

INVESTOR-INFORMATIONEN
©boersengefluester.de
WKN Kurs in € Einschätzung Börsenwert in Mio. €
0,000 0,00
KGV 2020e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 0,00 0,000 0,00
KBV KCV KUV EV/EBITDA
0,00 0,00 0,00 0,000
Dividende '19 in € Dividende '20e in € Div.-Rendite '19e
in %
Hauptversammlung
0,00 0,00 0,00
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,00% 0,00% 0,00% 0,00%
    
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Stahl/Kupfer , SKWM02 , SK1A , XETR:SK1A