EQS-Ad-hoc: PIERER Mobility AG / Key word(s): AGM/EGM/Capital Increase
PIERER Mobility AG: Loss of half of the share capital and intended capital
measures
04-Apr-2025 / 07:07 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.
The issuer is solely responsible for the content of this announcement.
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Ad hoc notification pursuant to Article 17 Regulation (EU) No 596/2014
(MAR)
Ad hoc announcement pursuant to Art. 53 LR
Wels, April 4, 2025
PIERER Mobility AG: Loss of half of the share capital and intended capital
measures
Loss of half the share capital makes extraordinary general meeting
necessary
As already communicated, a significant reduction in operating performance
and one-off restructuring expenses will result in a significantly negative
result for the 2024 financial year. Equity is expected to be clearly
negative as at December 31, 2024.
Due to the negative result expected for the 2024 financial year, which
will result in a loss of half the share capital, the auditor has exercised
his duty to speak. Due to mandatory legal requirements, an Extraordinary
General Meeting must be convened due to the loss of half the share
capital. This is to take place on April 25, 2025 at the House of Brands in
Munderfing.
Capital measures at an issue price of € 7.50 are proposed
As part of the package of measures to fulfill the 30% restructuring plan
quotas of the KTM Group, the company intends to adopt capital measures at
the upcoming Extraordinary General Meeting. To this end, the Executive
Board and the Supervisory Board will propose to the Annual General Meeting
that the following capital measures be resolved at an issue price of €7.50
per share.
Cash capital increase
In a first step, the Extraordinary General Meeting shall decide on a cash
capital increase of up to € 150 million by granting statutory subscription
rights to the shareholders. Shares for which subscription rights have not
been exercised may be taken up by Pierer Bajaj AG.
Any public offering of shares in PIERER Mobility AG in the context of the
cash capital increase will be made exclusively by and on the basis of a
capital market prospectus (including any supplements thereto) to be
prepared in accordance with the provisions of the Prospectus Regulation,
to be approved by the FMA and subsequently published. An investment
decision regarding any offered shares of PIERER Mobility AG should only be
made on the basis of such a capital market prospectus.
Capital increase in kind
In a second step a capital increase in the amount of € 200 million against
contribution in kind excluding statutory subscription rights shall be
resolved, which can be executed after the KTM group’s restructuring
proceedings have been completed successfully. Only the main shareholder
Pierer Bajaj AG will be admitted to subscribe to this non-cash capital
increase. Pierer Bajaj AG intends to contribute the loans made available
to date for the ramp-up of production in the total amount of € 150 million
(whereby the third and final tranche of € 50 million was disbursed
yesterday) as a contribution in kind. A further prospective loan of € 50
million is also to be contributed as a contribution in kind.
All of the loans to be contributed in kind provide for an extraordinary
right of termination if the described non-cash capital increase is not
carried out at the issue price of € 7.50 per share or if the corresponding
resolution of the General Meeting is challenged in court by a shareholder.
The funds for these loans were provided to Pierer Bajaj AG by its
long-standing partner and shareholder Bajaj Auto.
Dilution
If the corresponding resolutions are passed at the General Meeting and the
non-cash and cash capital increase are fully subscribed, it can be assumed
that the share capital of PIERER Mobility AG will be increased by a factor
of around 2.4.
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: (1)ir@pierermobility.com
Website:(2) 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
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04-Apr-2025 CET/CEST News transmitted 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: 2111658
Valorennummer (Schweiz): 41860974 Wertpapierkürzel: PKTM Bloomberg: PKTM
SW; PKTM AV Reuters: PKTM.S; PKTM.VI
End of Announcement EQS News Service
2111658 04-Apr-2025 CET/CEST
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References
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