Hess AG
Hess AG: Liquidity crisis; Negotiations on the restructuring of the company
Hess AG / Key word(s): Liquidity Problem 04.02.2013 21:37 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Hess AG: Liquidity crisis; Negotiations on the restructuring of the company Villingen-Schwenningen, 4. February 2013 - The financing credit institutions freezed, as a matter of precaution, the positive balances in favour of the Hess group and freezed as well the credit lines. As a result of such credit freeze, some of the subsidiaries of Hess AG have pressing need for liquidity. For solving the liquidity crisis and for purposes of restructuring the company, the management board is in constructive negotiations with the financing credit institutions on a standstill agreement. Such standstill agreement and the continuation of the company require substantial financial measures by the major shareholder, Hess Grundstücksverwaltungs GmbH & Co. KG. The negotiations taken by the management in this regard did not lead to a sufficient result so far. Regarding this, the liquidity and the positive prognosis of the continuation of the enterprise and its legal consequences have to be considered with great care. In this regard, the management board will continue to pursue any reasonably possible option for the restructuring of the company. Management Board 04.02.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Hess AG Lantwattenstraße 22 78050 Villingen-Schwenningen Germany Phone: +49 7721 920 0 Fax: +49 7721 920 250 E-mail: hess@hess.eu Internet: www.hess.eu ISIN: DE000A0N3EJ6 WKN: A0N3EJ Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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