Neschen AG
Neschen AG: No agreement on collateral release – Blue Cap and Neschen suspend purchase agreement
Neschen AG / Key word(s): Takeover 01.07.2016 16:25 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Unscheduled announcement pursuant to § 15 (1) of the German Securities Trading Act (WpHG) of July 1, 2016 Neschen AG: No agreement on collateral release - Blue Cap and Neschen suspend purchase agreement The insolvency administrator of Neschen AG, Arndt Geiwitz, and Blue Cap AG, Munich, have today amicably agreed to withdraw from the purchase agreement that was concluded on May 19, 2016. The reason is the breakdown of negotiations concerning the release of collateral by hedge fund Sandton Financing III (Luxembourg) S.a.r.l. On May 19, Neschen AG and Blue Cap 07 GmbH, a subsidiary of Blue Cap AG, Munich, reached agreement concerning the disposal of the main assets of Neschen AG and the operating subsidiaries of Neschen Benelux B.V., the implementation of which depended partly on the submission of documents by Sandton. When the agreement was entered into, it was expected that these documents, which are required for the land register, would be submitted on time. Discussions concerning a transfer of the operating business are being continued. Neschen AG made an announcement on April 17, 2015 about insolvency due to overindebtedness, and Neschen Benelux B.V. made a parallel announcement on April 20, 2015. Contact: BSK Becker + Schreiner Kommunikation GmbH Mr. Tobias M. Weitzel Giesserallee 6 47877 Willich Telephone: +49 (2154) 81 22 18 Email: investor.relations@neschen.de Stock market listing and trading segment: German Securities Identification Number (WKN): 502130 International Securities Identification Number (ISIN): DE0005021307 Frankfurt Stock Exchange: Regulated Market (General Standard) Stock Exchange of Lower Saxony in Hannover: Regulated Market 01.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Neschen AG Hans-Neschen-Str. 1 31675 Bückeburg Germany Phone: + 49 (0) 5722 207-0 Fax: + 49 (0) 5722 207-197 E-mail: a.buhrmester@neschen.de Internet: www.neschen.de ISIN: DE0005021307 WKN: 502130 Listed: Regulated Market in Frankfurt (General Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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