DGAP-Adhoc: Restructuring and financing milestone reached/changes in the Managment Board

Praktiker AG  / Key word(s): Strategic Company Decision/Change of Personnel

13.05.2012 19:27

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.

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Ad-hoc announcement according to sec. 15 WpHG

Restructuring / Management Board Change

Restructuring and financing milestone reached/
changes in the Management Board  

Praktiker AG
Am Tannenwald 2
66459 Kirkel
ISIN: DE000A0F6MD5
WKN: A0F6MD

KIRKEL - 2012/05/13. The supervisory board of the Praktiker AG has approved
a financing concept for the implementation of the restructuring program
today. An investor is offering a senior loan of 85 million euro to the
company.

This senior loan is an important building block for the total financing of
the restructuring of Praktiker AG. It shall be complemented by a credit
facility and a capital increase based on the existing authorized capital.

The financing concept involves fundamental changes of the restructuring
program initiated in November 2011 and contains a considerable reduction of
the overall financing volume. Basically, the new positioning aims at
sharpening the profile of the two-brand strategy with Praktiker and Max
Bahr. In this context, a greater number of Praktiker stores are to be
converted to Max Bahr. Here the new concept deviates from the previous
strategy.

With the approval of this financing concept, the restructuring mission of
Management Board members Thomas Fox and Josef Schultheis ends. They are
leaving the company as agreed effective today, but will remain available as
advisors. The Supervisory Board has delegated long-term Supervisory Board
member Dr. Kay Hafner as the new Chairman of the Management Board. Markus
Schürholz will remain in charge of the finance sector. Further members of
the Management Board will be announced soon.


13.05.2012 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:      Praktiker AG
              Am Tannenwald 2
              66459 Kirkel
              Germany
Phone:        +49 (0)6849 95-3700
Fax:          +49 (0)6849 95-3709
E-mail:       investorrelations@praktiker.de
Internet:     www.praktiker.com
ISIN:         DE000A0F6MD5
WKN:          A0F6MD
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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