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AIROPACK TECHNOLOGY GROUP AG (FRA:CH024260) EQS-Adhoc: Airopack Technology Group AG: Airopack Technology Group - Further information on existing indebtedness

Directive transparence : information réglementée

01/02/2019 06:41

EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Financing
Airopack Technology Group AG: Airopack Technology Group - Further information on existing indebtedness

01-Feb-2019 / 06:41 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


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Airopack Technology Group - Further information on existing indebtedness

 

Baar, 1 February 2019 - Airopack Technology Group AG ("Airopack") announced today an update to the press release dated 16 January 2019. Airopack is still in intensive discussions with its major lenders to find a solution regarding the existing indebtedness and shortage of liquidity. As of 31 January 2019, no transaction could be concluded which would provide for a comprehensive refinancing and recapitalisation of Airopack Group. In addition, as of 31 January 2019, events of default have occurred under the main credit facilities agreement of Airopack Group. This would give the major lenders the right to accelerate the loans and enforce the comprehensive security package.

An arrangement has been reached that the major lenders temporarily abstain from enforcing their security package whilst such discussions will be ongoing over the next few days. However, the continuing shortage of liquidity of Airopack Group as a whole and Airopack as the listed Swiss holding company casts doubt on the ability of Airopack Group to continue to trade (see press release dated 16 January 2019).

Airopack will continue the discussions with its relevant stakeholders and the Board of Directors expects to communicate further details in the near future.

 

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
martin.eberhard@rimesa.ch
TF: +41 79 209 77 50

For media:
Tolxdorff Eicher Kollektivgesellschaft

Daniel Eicher / Theresia Tolxdorff
partners@tolxdorffeicher.ch
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


End of ad hoc announcement
Language: English
Company: Airopack Technology Group AG
Blegistrasse 5
6340 Baar
Switzerland
Phone: +41 417663500
Fax: +41 417663509
E-mail: liebwin.vanlil@airopackgroup.com
Internet: www.airopackgroup.com
ISIN: CH0242606942
Listed: SIX Swiss Exchange

 
End of Announcement EQS Group News Service

771689  01-Feb-2019 CET/CEST

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