KTG Energie AG
KTG Energie AG not directly affected by current payment delays of KTG Agrar SE
DGAP-News: KTG Energie AG / Key word(s): Statement KTG Energie AG not directly affected by current payment delays of KTG Agrar SE Hamburg, June 6, 2016. In response to the many enquiries of shareholders and bond holders, the Management Board of KTG Energie AG (WKN A0HNG5; ISIN DE000A0HNG53) has stated that the company is not directly affected by the current discussions about the refinancing of KTG Agrar SE and that, in particular, KTG Energie AG bears no liability for the commitments of KTG Agrar SE. “As the major shareholder, KTG Agrar SE currently holds more than 50 percent of the shares in KTG Energie AG and, as before, continues to deliver the substrates for our biogas plants reliably and in accordance with the agreed fixed conditions”, said Dr. Thomas Berger, CEO of KTG Energie AG. There was also no rational reason why this should change. In addition, since 31 October 2015, the last day of the financial year 2014/2015, KTG Energie AG had further reduced the liabilities to the parent company. “Moreover, the loan agreement with KTG Agrar SE would not allow for the liabilities to be called in for immediate payment”, emphasised Berger. He sees a possibility of fully substituting the EUR 50 million bond (WKN: A1ML25 / ISIN: DE000A1ML257) which runs until September 2018 for a refinancing at a more favourable interest rate by 2017 at the latest. Berger: “Based on the current plant portfolio, we have already secured revenues of more than EUR 90 million and EBITDA of up to EUR 28 million in the current financial year. About KTG Energie AG Contact:
2016-06-06 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | KTG Energie AG | |
Ferdinandstr. 12 | ||
20095 Hamburg | ||
Germany | ||
Phone: | +49 40 76755372 | |
Fax: | +49 40 76755374 | |
E-mail: | info@ktg-energie.de | |
Internet: | www.ktg-energie.de | |
ISIN: | DE000A0HNG53, DE000A1ML257, | |
WKN: | A0HNG5, A1ML25 | |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market (Entry Standard) in Frankfurt | |
End of News | DGAP News Service |