Further funds secured for the resumption of production at KTM
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EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Financing Ad hoc notification pursuant to Article 17 of Regulation (EU) No 596/2014 (MAR) Ad hoc announcement pursuant to Art. 53 LR
Wels, April 1, 2025
The company announces that KTM AG has already secured another EUR 50 million to finance the ramp-up of the production. As planned, the production resumed on March 17, 2025.
As reported by online media, a credit institution has called an amount of around EUR 65 million from comfort letters issued by PIERER Mobility AG for the KTM Group and demanded payment of this amount.
Under the comfort letters, the company has no obligation to provide funds for the benefit of the credit institution and firmly rejects the alleged claims. The allegation that money is being abstracted from creditors is incorrect.
On February 25, 2025, the creditors of KTM AG approved a restructuring plan quota of 30%. The investor process to finance this restructuring plan quota and the further operating business of KTM Group continues. The cash quota, including procedural costs, of approximately EUR 600 million must be paid to the restructuring administrator by May 23, 2025.
Legal Notice THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF PIERER MOBILITY AG. IT IS NOT FOR DISTRIBUTION, TRANSMISSION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.
For further information: Investor Relations Hans Lang & Melinda Busáné Bellér Tel: +43 676 4140945 or +43 676 4093711 Email: ir@pierermobility.com Website: https://www.pierermobility.com
ISIN: AT0000KTMI02; Swiss Valor Number (Switzerland): 41860974; Ticker Symbol: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI End of Inside Information
01-Apr-2025 CET/CEST News transmitted by EQS Group. www.eqs.com |
| Language: | English |
| Company: | PIERER Mobility AG |
| Edisonstrasse 1 | |
| 4600 Wels | |
| Austria | |
| Phone: | +43 (0) 7242 69 402 |
| E-mail: | ir@pierermobility.com |
| Internet: | www.pierermobility.com |
| ISIN: | AT0000KTMI02 |
| WKN: | A2JKHY |
| Listed: | SIX, Vienna Stock Exchange |
| EQS News ID: | 2109536 |
| Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM SW; PKTM AV Reuters: PKTM.S; PKTM.VI |
| End of Announcement | EQS News Service |
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2109536 01-Apr-2025 CET/CEST
