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SAF-HOLLAND S.A.: Banks submit proposal on financial restructuring
SAF-HOLLAND S.A. / Banking Syndicate/Restructure of Company
Release 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.
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In today's negotiations on the restructuring of the SAF-HOLLAND Group,
lending banks proposed the transfer of the Company's operational activities
to a trustee. The economic framework conditions of such a model are still
to be negotiated. The implementation of the proposal would mean that
SAF-HOLLAND S.A. would, for the most part, be legally separated from the
operating business and the assets of the Group. At the same time, the
operating business would be sustainably supported and financially secured.
An alternative proposal from the side of the Company with less decisive
consequences for the shareholders was rejected by the banks. Following
agreement on the details, the Annual General Meeting must make a decision
on the model.
Luxembourg, August 11, 2009
Board of Directors of SAF-HOLLAND S.A.
Contact:
SAF-HOLLAND Group GmbH
Barbara Zanzinger
Hauptstraße 26
63856 Bessenbach
Phone +49 6095 301-617
barbara.zanzinger@safholland.de
11.08.2009 Financial News transmitted by DGAP
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Language: English
Issuer: SAF-HOLLAND S.A.
68-70, boulevard de la Pétrusse
L-2320 Luxembourg
Luxemburg
Phone: +49 6095 301 - 0
Fax: +49 6095 301 - 260
E-mail: info@safholland.de
Internet: www.safholland.com
ISIN: LU0307018795
WKN: A0MU70
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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