DGAP-Adhoc: Loewe AG: Restructuring using 'Schutzschirmverfahren' (creditors' protection proceedings)

| Source: EQS Group AG EQS Group AG 

Loewe AG  / Key word(s): Miscellaneous

16.07.2013 18:12

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Kronach, 16 July 2013. - Coburg Local Court has agreed to today's
applications lodged by Loewe AG and Loewe Opta GmbH to complete a
restructuring process under their own administration using creditors'
protection proceedings. Restructuring experts of Dr. Beck & Partner GbR,
Nuremberg, Dr. Siegfried Beck (Loewe AG) and Joachim Exner (Loewe Opta
GmbH), have been appointed temporary administrators.
 
Loewe will continue to be managed by its Executive Board and can use the
opportunities offered by the new creditors' protection proceedings to
restructure the company. The business at the Kronach site will continue
without any restrictions. The aim of the Executive Board is to restructure
Loewe in cooperation with strategic partners and investors. The revision of
the company's value addition and positioning strategy which has already
been started will be at the forefront of its activities.


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Information and Explaination of the Issuer to this News:

Contacts:

Loewe AG
Industriestrasse 11
96317 Kronach, Germany
Investor Relations, Axel Gentzsch
Phone:  +49 (0)9261 99-240
Fax:  +49 (0)9261 99-994
Mail:  axel.gentzsch@loewe.de

Public Relations, Dr. Roland Raithel
Phone:  +49 (0)9261 99-217
Fax:  +49 (0)9261 99-444
Mail:  roland.raithel@loewe.de

16.07.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Loewe AG
              Industriestrasse 11
              96317 Kronach
              Germany
Phone:        +49 (0)9261 99-984
Fax:          +49 (0)9261 99-994
E-mail:       ir@loewe.de
Internet:     www.loewe.de
ISIN:         DE0006494107
WKN:          649410
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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