DGAP-Adhoc: SAF-HOLLAND S.A.: Correction: SAF-HOLLAND achieves improvement in financing conditions

SAF-HOLLAND S.A.  / Key word(s): Miscellaneous

24.02.2011 17:13

Dissemination of a Ad-hoc-correction 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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Ad hoc announcement in accordance with section 15 of the German Securities
Trading Act (WpHG)
Please note that in the English ad hoc announcement published today at 4 pm
CET we replaced in the second sentence the wording 'initially to a level of
1.45 percent' by 'intially by 1.45 percent'. The corrected announcement is
as follows:

SAF-HOLLAND S.A. has reached an agreement with its banking syndicate on an
adjustment to the existing EUR 316 million credit facility. The amendment
agreement which will be signed shortly by the contracting parties,
includes, among other things, a significant reduction in the interest
margin, initially by 1.45 percent. Further reductions in the
interest margin will take effect depending on the development of the
company's key debt figures. In addition, the banking syndicate has waived
the opportunity of a simplified liquidation of securities in the course of
the most recent adjustment to the credit agreement. The adjustment to
credit conditions is subject to the execution of a capital increase with a
volume of at least EUR 90 million by the end of October 2011. In accordance
with the loan regulations, 85% of gross proceeds from the issuance of EUR
90 million as well as 50% of gross proceeds for any amount above EUR 90
million shall be used for the proportionate repayment of the loans.

At an extraordinary Annual General Meeting in December 2010, the
shareholders of SAF-HOLLAND approved an increase in authorized capital of
up to 20,535,100 shares. The execution of the capital increase from
authorized capital will serve, in particular, as an improvement in the
company's key debt figures and an increase in the equity ratio. COMMERZBANK
and UniCredit Bank have been mandated for the preparation and execution of
the capital increase as joint bookrunners.

Luxembourg, February 24th, 2011
Board of Directors



Contact:
SAF-HOLLAND Group GmbH
Barbara Zanzinger
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617
barbara.zanzinger@safholland.de




24.02.2011 DGAP's Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      SAF-HOLLAND S.A.
              68-70, boulevard de la Pétrusse
              L-2320 Luxembourg
              Großherzogtum Luxemburg
Phone:        +49 6095 301 - 0
Fax:          +49 6095 301 - 260
E-mail:       info@safholland.de
Internet:     www.safholland.com
ISIN:         LU0307018795
WKN:          A0MU70
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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