EQS-Adhoc

Leoni AG close to agreement on financial restructuring concept to secure financing - restructuring plan results in exit of existing shareholders - Seite 2

In the course of this capital increase, to which only the company indirectly held by Dipl.-Ing. Stefan Pierer is to be admitted, this company will become the new sole shareholder of Leoni AG and the stock exchange listing of the shares of Leoni AG will end.

As it is not predominantly likely that the capital measures envisaged in the restructuring concept will receive approval of an Annual General Meeting (approval requires at least 75% support of the share capital present) and, in addition, not all the borrower's note holders have to date formally supported the restructuring concept, Leoni AG plans to implement the restructuring concept through the means provided by the German Corporate Stabilization and Restructuring Act. Due to the state of negotiations with all syndicate banks and a sufficient number of borrower's note holders, the required majorities can already be considered secured. However, the consent of the guarantors (the states of North Rhine-Westphalia, Lower Saxony, Bavaria and the German federal government) is still outstanding, without which the entire restructuring cannot be implemented.

Since without implementation of the restructuring concept losses would be incurred which would consume the capital stock of Leoni AG, the Executive Board of Leoni AG will convene a shareholders' meeting in accordance with section 92 of the German Stock Corporation Act (AktG) at short notice. As a preventive measure, the Executive Board will notify this AGM of losses amounting to more than half of the capital stock.

Since the preparation, auditing and publication of annual and consolidated financial statements will only be possible once the implementation of the restructuring concept has been secured, the publication of the annual and consolidated financial statements for 2022 will be delayed and can only happen after the implementation of the restructuring concept.


Media contact
LEONI AG
Gregor le Claire
Corporate Press Officer
Phone: [phone]
E-mail: [e-mail]

Investor contact
LEONI AG
Rolf Becker
Senior Manager Investor Relations
Phone: [phone]
E-mail: [e-mail]

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29-March-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.