EQS-News: PIERER Mobility: Back on track

EQS-News: PIERER Mobility AG / Key word(s): Restructure of
   Company/Financing
   PIERER Mobility: Back on track - KTM AG reorganization plan accepted by
   creditors

   25.02.2025 / 14:15 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   Corporate News

   Wels, February 25, 2025

    

   PIERER Mobility: Back on track - KTM AG reorganization plan accepted by
   creditors

     • Restructuring plan accepted:  
       Cash quota of 30%, payable by May 23, 2025
     • Further fresh capital of around EUR 800 million required
     • Production will be ramped up again from mid-March 2025

    

   KTM AG, a wholly owned subsidiary of PIERER Mobility AG, filed for court
   restructuring proceedings with self-administration on November 29, 2024.
   The aim of the proceedings was to agree a restructuring plan with the
   creditors within 90 days.

    

   Restructuring plan adopted

    

   At today's restructuring plan meeting, the creditors accepted the
   restructuring plan submitted by KTM AG. It provides for creditors to
   receive a cash quota of 30% of their claims. This cash quota is to be paid
   by KTM AG to the restructuring administrator by May 23, 2025.

    

   Gottfried Neumeister, CEO of PIERER Mobility AG: "I am grateful and happy
   today. KTM is back on track. Our employees have done everything over the
   last three months to ensure that the race can continue. We have closed an
   important chapter today. But a single chapter never tells the whole story.
   Now we can continue the great story of KTM. We do it for the millions of
   KTM fans worldwide, to whom we are grateful every day. For our racers, of
   whom we are damn proud. And for our Austrian location, to which we are
   deeply attached in our hearts. KTM remains one of the top employers in the
   Upper Austrian industry."

    

   Fresh capital of around EUR 800 million required

    

   In order to finance the cash quota and further production, the Group
   requires fresh capital of around EUR 800 million. Citigroup Global Markets
   Europe AG ("Citigroup") was commissioned to support this investment
   process in a structured, transparent and efficient manner in the interests
   of all stakeholders

    

   Production will be ramped up again from mid-March 2025

    

   To enable production to be ramped up again gradually from mid-March 2025,
   KTM AG will be provided with financial resources totaling EUR 50 million
   from the extended circle of shareholders. The planned full capacity
   utilization of the four production lines in single-shift operation is to
   be achieved within three months.

    

    

   For further information:

   Investor Relations

   Hans Lang & Melinda Busáné Bellér

   Tel: +43 676 4140945 or +43 676 4093711

   Email: ir@pierermobility.com

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

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   25.02.2025 CET/CEST This Corporate News was distributed by EQS Group.
   www.eqs.com

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   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: 2091153

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

    
   End of News EQS News Service


   2091153  25.02.2025 CET/CEST

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