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    DGAP-Adhoc  570  0 Kommentare SKW Stahl-Metallurgie Holding AG: Indian Somani Group submitting non-binding letter-of-intent to strengthen the equity of SKW Stahl-Metallurgie Holding AG; Conditions: Restructuring contributions by providers of capital


    SKW Stahl-Metallurgie Holding AG / Key word(s): Capital Reorganisation/Financing

    28.06.2016 19:27

    Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
    by DGAP - a service of EQS Group AG.
    The issuer is solely responsible for the content of this announcement.

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    München (Germany), June 28, 2016. The Executive Board of SKW
    Stahl-Metallurgie Holding AG, München (Germany), ISIN DE000SKWM021, informs
    that the Indian Somani Group submitted a non-binding letter-of-intent to
    become a shareholder in the Company in the context of a financial
    restructuring. According to Somani Group's proposal, a transaction should
    entail a significant reduction of the registered capital and a subsequent
    capital increase against cash with subscription rights for the
    shareholders. The letter-of-intent stipulates that the execution of the
    capital increase against cash is guaranteed by the Somani Group
    ("backstop") under the condition that the Somani Group is to hold at least
    51% of the shares of the Company after the transaction.
    From the point of view of the Somani Group, the execution of a transaction
    would furthermore necessitate that the key providers of debt capital to the
    Company participate in the financial restructuring by own contributions.
    Today, Supervisory Board and Executive Board of the Company were made aware
    of the fact that the largest shareholder of the Company (Group First
    Holding GmbH/MCGM GmbH) had offered to the Somani Group to commence talks
    about a participation in a transaction.
    The negotiations are in a very early stage, and it is not secured whether a
    transaction with the Somani Group for the financial restructuring of the
    Company is going to materialize. Supervisory Board and Executive Board of
    the Company will diligently assess the transaction as well as alternatives
    for a financial restructuring.


    28.06.2016 The DGAP Distribution Services include Regulatory Announcements,
    Financial/Corporate News and Press Releases.
    Media archive at www.dgap.de

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    Language: English
    Company: SKW Stahl-Metallurgie Holding AG
    Rathausplatz 11
    84579 Unterneukirchen
    Germany
    Phone: +49 (0)8634 62720-15
    Fax: +49 (0)8634 62720-16
    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

    End of Announcement DGAP News-Service

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    DGAP-Adhoc SKW Stahl-Metallurgie Holding AG: Indian Somani Group submitting non-binding letter-of-intent to strengthen the equity of SKW Stahl-Metallurgie Holding AG; Conditions: Restructuring contributions by providers of capital SKW Stahl-Metallurgie Holding AG / Key word(s): Capital Reorganisation/Financing 28.06.2016 19:27 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for …