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SKW Stahl-Metallurgie Holding AG: Waiver extended re loan contract

DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Financing
SKW Stahl-Metallurgie Holding AG: Waiver extended re loan contract

01.06.2016 / 17:55
The issuer is solely responsible for the content of this announcement.

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Unterneukirchen/Munich (Germany), June 1, 2016. SKW Metallurgie (WKN SKWM02
/ ISIN DE000SKWM021), the global specialty chemicals Group, and its lending
banks agreed in the context of the negotiations to amend the existing
syndicated loan contract, that the waiver (of extraordinary bank rights to
terminate the contract) be extended until September 29, 2016. The
termination rights in question result from the global steel crisis, due to
which contractual financial figures (so-called "Financial Covenants") were
not any more met as per Q3-2015. The company remains optimistic to reach
during the further course of the year a solution for the continued
financing of SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie
Group, that is of mutual satisfaction for all involved parties.
Independent thereof, it remains valid that the Group yields a positive
operative cash flow despite the challenging economic environment, and that
the existing loan frame is entirely sufficient for the going concern of SKW
Stahl-Metallurgie Holding AG and the SKW Metallurgie Group.
 

Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communication
Rathausplatz 11
84579 Unterneukirchen
Germany

Phone IR/Press: [phone]
Fax: [phone]
E-Mail: [e-mail]
Internet: www.skw-steel.com

Note: The AGM of May 10, 2016 resolved to move legal headquarters from
Unterneukirchen to München. This change shall be incorporated into the
company register without undue delay.

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). The Group reached total revenues of EUR 285.5
million in 2015 and employs around 650 staff members (as of Dec. 31, 2015).
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.


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01.06.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language: English
Company: SKW Stahl-Metallurgie Holding AG
Rathausplatz 11
84579 Unterneukirchen
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
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


End of News DGAP News Service
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468413 01.06.2016