DGAP-News: Pfleiderer AG: Creditors and Shareholders Support Insolvency Plan
(firmenpresse) - DGAP-News: Pfleiderer AG / Key word(s): Capital Reorganisation
Pfleiderer AG: Creditors and Shareholders Support Insolvency Plan
12.09.2012 / 14:54
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Düesseldorf, 12 September, 2012 - At a court-ordered meeting today, a large
majority of creditors and shareholders of Pfleiderer AG (ISIN DE0006764749)
approved the insolvency plan proposed by the Pfleiderer Board.
The voting process was conducted separately by groups: All groups set up
during the process approved the plan either unanimously or by a large
majority. The creditors approved the plan with an overall majority of
99,46%. Shareholders approved the plan with 99,19% of the votes.
As previously announced, the insolvency plan envisages significant debt
relief for Pfleiderer AG and recapitalisation by means of a capital
reduction to zero and a subsequent capital increase. It also involves the
spin-off of companies that will no longer be included in the core business
of the future Pfleiderer Group and the payment of an insolvency dividend to
unsecured non-subordinated creditors. Under the insolvency plan,
shareholders and subordinated creditors will not receive any compensation.
Court approval of the plan and the conclusion of insolvency proceedings are
expected during the next weeks.
About Pfleiderer:
The Pfleiderer Group (ISIN DE 0006764749) is one of the world's leading
producers of engineered wood. The company employs approximately 4,700
people and operates 16 locations in North America, Western and Eastern
Europe producing engineered wood, surface finished products and laminate
flooring. Pfleiderer is a preferred partner of the furniture industry,
specialist and home improvement stores, and interior design suppliers. In
fiscal year 2011, the Group (continued operations) generated preliminary
consolidated revenues of approximately EUR1.1 billion. More information at:
www.pfleiderer.com
Contact persons:
Media
Brunswick Group GmbH
Sabine Morgenthal
Tel.: + 49 (0)174 3258886
Christian Weyand
Tel.: +49 (0)172 6171677
Analysts/Investors:
Lothar Sindel
Vice President Investor Relations
Tel.: + 49 (0) 211 929 638 20
Fax: + 49 (0) 211 929 638 23
E-mail: lothar.sindel(at)pfleiderer.com
End of Corporate News
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12.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Pfleiderer AG
Kennedydamm 55
40476 Düsseldorf
Germany
Phone: +49 (0) 211 929 638 20
Fax: +49 (0) 211 929 638 23
E-mail: lothar.sindel(at)pfleiderer.com
Internet: www.pfleiderer.com
ISIN: DE0006764749WKN: 676474
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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185060 12.09.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.09.2012 - 14:54 Uhr
Sprache: Deutsch
News-ID 182747
Anzahl Zeichen: 5090
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Kategorie:
Business News
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