VARTA AG / DE000A0TGJ55

VARTA AG: Regional Court Stuttgart rejects appeals against the restructuring court’s plan confirmation decision as inadmissible, VARTA AG’s restructuring plan hence legally binding

EQS-Ad-hoc: VARTA AG / Key word(s): Restructure of Company/Legal Matter


23-Jan-2025 / 16:04 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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VARTA AG, Ellwangen, ISIN: DE000A0TGJ55

Disclosure of an inside information acc. to Article 17 of the Regulation (EU) No 596/2014

Regional Court Stuttgart rejects appeals against the restructuring court’s plan confirmation decision as inadmissible, VARTA AG’s restructuring plan hence legally binding
 
Ellwangen, 23 January 2025 – VARTA AG (the “Company”) announces that today the Regional Court of Stuttgart rejected all immediate appeals filed against the plan confirmation decision of the Restructuring Court of Stuttgart as inadmissible. The appeal on points of law was not admitted by the Regional Court of Stuttgart. As a result, the Company's restructuring plan is legally binding.

As already communicated, the restructuring court in Stuttgart had confirmed the restructuring plan on 11 December 2024 following the approval of the restructuring plan by the majority of the voting groups in the discussion and voting meeting (Erörterungs- und Abstimmungstermin) that took place on 25 November 2024.

As also previously communicated, the restructuring plan provides for a simplified decrease of the Company’s share capital to € 0 as part of the financial restructuring. This will result in the exit of the Company's current shareholders without compensation and the delisting of the Company's shares. At the same time, the Company will raise new equity in the total amount of € 60 million via a capital increase against contribution in cash and in kind with exclusion of subscription rights by a company controlled by the Company's current indirect majority shareholder Dr. Dr. Michael Tojner and an investment company of Dr. Ing. h.c. F. Porsche AG. In addition, the existing debt burden of € 485 million shall be reduced by approximately € 255 million to a total of approximately € 230 million as part of a haircut, and liquidity requirements are to be covered by taking out a new senior loan (super senior) in the total amount of € 60 million. These measures will ensure sustainable financing of the Company and position it for the future.

Now that the plan has become legally binding, the implementation of the plan and thus the delisting will happen soon.



Contact:
Investors:
Emanuel Sican
Head of Investor Relations
[e-mail]

Press and media:
Dirk Schmitt
Press Spokesman (interim)
[e-mail]

End of Inside Information

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23-Jan-2025 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	VARTA AG
	VARTA-Platz 1
	73479 Ellwangen
	Germany
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.varta-ag.com
ISIN:	DE000A0TGJ55
WKN:	A0TGJ5
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	2073777

End of Announcement	EQS News Service

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2073777  23-Jan-2025 CET/CEST