EQS-Adhoc: PIERER Mobility AG: Far-reaching restructuring and additional liquidity requirement at KTM AG
   EQS-Ad-hoc: PIERER Mobility AG / Key word(s): Restructure of
   Company/Liquidity Problem
   PIERER Mobility AG: Far-reaching restructuring and additional liquidity
   requirement at KTM AG

   12-Nov-2024 / 20:42 CET/CEST
   Disclosure of an inside information acc. to Article 17 MAR of the
   Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
   Group AG.
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   Ad hoc announcement pursuant to article 17 Regulation (EU) No 596/2014
   (MAR)

   Ad hoc announcement pursuant to article 53 LR

    

    Wels, November 12, 2024

    

    

   PIERER Mobility AG: Far-reaching restructuring and additional liquidity
   requirement at KTM AG

    

   In the course of liquidity planning for the 2025 financial year, PIERER
   Mobility AG has to cover additional liquidity requirements at the level of
   KTM AG. As of June 30, 2024, the KTM AG Group was responsible for more
   than 95% of PIERER Mobility AG's revenue.

    

   Ongoing discussions with core shareholder Pierer Bajaj AG and major
   financial creditors of KTM AG on financial restructuring

    

   The Executive Board is currently working on securing the financing of KTM
   AG, in particular on a bridge financing in the three-digit million range.
   To this end, discussions are ongoing both with the core shareholder Pierer
   Bajaj AG and with existing financial creditors. The aim is to agree a
   standstill agreement with the financial creditors involved for the
   duration of these discussions as basis for the financial restructuring.

    

   The negotiations and discussions are currently at an early stage. It is
   therefore not yet possible to make any concrete statements about the
   outcome of the negotiations, the conditions and the size of an additional
   financing.

    

   Far-reaching restructuring necessary at KTM AG level

    

   In addition to securing liquidity, the Executive Board is endeavouring to
   put KTM AG back on a stable operational and financial basis. Against the
   backdrop of a challenging economic environment, an even more far-reaching
   operational restructuring is being driven forward with the aim of reducing
   inventories at both KTM AG and the dealer level to an economically
   sustainable level by significantly reducing production volumes.
   Furthermore, overheads are also to be significantly reduced once again.

    

   The aim is to stabilize costs and sales at a redimensioned level from the
   2025 financial year and thus create the basis for sustainable
   competitiveness and profitability.

    

   Further information will be published in due course.

    

    

   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 respectively +43 676 4093711

   Email: ir@pierermobility.com

   Website: (1)https://www.pierermobility.com

    

   ISIN: AT0000KTMI02; security number (Switzerland): 41860974; securities
   code: PKTM; Bloomberg: PKTM SW, PKTM AV; Reuters: PKTM.S, PKTM.VI

   End of Inside Information

   ══════════════════════════════════════════════════════════════════════════

   12-Nov-2024 CET/CEST News transmitted by EQS Group AG. 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: 2028485

   Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
   SW; PKTM AV Reuters: PKTM.S; PKTM.VI

    
   End of Announcement EQS News Service


   2028485  12-Nov-2024 CET/CEST

References

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