SKW Stahl-Metallurgie Holding AG: SKW Metallurgie evaluating all options for a sustainable financial restructuring, including the non-binding offer of MCGM - Dissemination of confidential information not in the interest of the Company
München (Germany), November 22, 2016. The SKW Metallurgie Group (WKN SKWM02 / ISIN DE000SKWM021), globally leading provider of primary and secondary metallurgic solutions for the steel industry, continues to evaluate several promising approaches for a sustainable financial restructuring of the Company, and is optimistic to develop, together with the financing banks, a sustainable solution by the end of the year. With respect to the dissemination by shareholder MCGM GmbH dated November 21, 2016 concerning their declared intention to participate in a potential capital increase, Supervisory Board and Executive Board of SKW Stahl-Metallurgie Holding AG explicitly welcome the general willingness to acquire significant numbers of shares of the company in the context of capital measures. However, Supervisory Board and Executive Board have to state that confidential information is brought from the Supervisory Board of the Company to the public by MCGM GmbH. Sole Managing Director of MCGM GmbH is Dr. Olaf Marx, who at the same time is a member of the Supervisory Board of SKW Stahl-Metallurgie Holding AG. Media campaigns against SKW Stahl-Metallurgie Holding AG involving confidential information are on the one hand contrary to duty, and on the other hand disadvantageous for the process of a careful examination and evaluation of all options, oriented at the good of the Company, and for discussions with potential partners. Moreover, confidential discussions in the corporate bodies are being obstructed. Dr. Marx was already mid-year a party to legal issues in the Supervisory Board of SKW Stahl-Metallurgie AG. In the interest of the Company, the proceedings were at the time concluded by the resignation of Dr. Marx from the office of Chairperson of the Supervisory Board, which took place subsequent to a revocation from that position by the competent court. Supervisory Board and Executive Board of SKW Stahl-Metallurgie Holding AG regret that Dr. Marx is once again causing frictions in supervision and management of the Company, and reserve the right to further action in this matter. The aforesaid notwithstanding, no one will accept any pressure by MCGM campaigns when restructuring and solving the financial situation; rather, a professional solution in the interest of the Company and all involved stakeholders continues to be developed.
SKW Stahl-Metallurgie Holding AG Christian Schunck Head of IR and Corporate Communications Prinzregentenstr. 68 81675 München Germany
Phone IR/Press: +49 89 5998923-22 Fax: +49 89 5998923-29 E-Mail: email@example.com
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.
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.
22.11.2016 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.
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Language: English Company: SKW Stahl-Metallurgie Holding AG Prinzregentenstr. 68 81675 München Germany Phone: +49 (0)89 5998923-22 Fax: +49 (0)89 5998923-29 E-mail: firstname.lastname@example.org 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, Tradegate Exchange End of News DGAP News Service