Airopack Technology Group - Cantonal Court of Zug grants Provisional Moratorium; Major Lenders have initiated Enforcement of Security
Baar, 12 February 2019 - Airopack Technology Group AG ("Airopack") announced today that in its decision dated 12 February 2019, the Cantonal Court of Zug has granted Airopack's request for a provisional composition moratorium (provisorische Nachlassstundung) of an initial duration of two months and has appointed Dr Daniel Hunkeler, Baur Hürlimann AG, as provisional administrator.
Airopack has now also been served with a notice that based on the continuing events of default under the Facilities Agreement the major lenders have initiated steps to enforce the pledges and other security interests granted by members of the Airopack Group. Airopack has anticipated this step in its press release dated 11 February 2019.
The board of directors will provide further updates as needed.
Airopack Technology Group AG
Antoine Kohler, Chairman
Blegistrasse 5/1 OG
TF: +41 41 768 50 50
Airopack Technology Group AG
TF: +41 79 209 77 50
Tolxdorff Eicher Kollektivgesellschaft
Daniel Eicher / Theresia Tolxdorff
TF: +41 44 718 25 25
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).
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.