23.11.2016 15:37:36
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DGAP-News: 3W Power S.A.
DGAP-News: 3W Power S.A. / AEG Power Solutions / Key word(s): Strategic
Company Decision/Miscellaneous
3W Power S.A. / AEG Power Solutions: 3W Power | AEG Power Solutions Secures
Additional Financing
23.11.2016 / 15:37
The issuer is solely responsible for the content of this announcement.
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23 November 2016, Luxembourg / Zwanenburg, The Netherlands. 3W Power S.A.
(ISIN LU1072910919, 3W9K), the holding company of AEG Power Solutions Group
today announced that,following yesterday's announcement regarding
additional measures to accelerate the profitability of AEG Power
Solutions, the Company has reached an agreement in principle on the
commercial terms of new financing.
The financing comprises a EUR 5.5 million revolving credit facility at 3W Power S.A. and a EUR 9.5 million debtor-in-possession (DIP) facility at AEG Power Solutions GmbH. The financing will carry interest of 9.5% and be secured against group assets. The financing is being provided by existing stakeholders. In addition, the company entered into lock-up agreements with selected key holders of the company's notes in support of the necessary amendments to the terms and conditions of existing bonds.
The proceeds will be used to effect the reorganization plans under the protective shield proceedings in Germany, to fund further cost reductions throughout the group and to inject working capital to assist with order fulfillment. These actions will accelerate the Company's progress toward sustained profitability.
Yesterday, the local court in Arnsberg, Germany approved the management's filing for the protective shield proceedings at AEG Power Solutions GmbH, the group's German subsidiary.
-- End of Announcement --
About 3W Power: 3W Power S.A. (WKN A114Z9 / ISIN LU1072910919), based in Luxembourg, is the holding company of AEG Power Solutions Group. The Group is headquartered in Zwanenburg in the Netherlands. The shares of 3W Power are admitted to trading on Frankfurt Stock Exchange (ticker symbol: 3W9K). For more information, visit www.aegps.com
Press contact: Tobias Eberle / Thomas Katzensteiner Charles Barker Corporate Communications GmbH Phone: +49 69 79 40 90 24 / +49 69 79 40 90 25 Email: Tobias.Eberle@charlesbarker.de / Thomas.Katzensteiner@charlesbarker.de
Investor Relations contact: Christian Hillermann Hillermann Consulting Phone: +49 40 320 279 10 Email: investors@aegps.com
This communication does not constitute an offer or the solicitation of an offer to buy, sell or exchange any securities of 3W Power. This communication contains forward-looking statements which include, inter alia, statements expressing our expectations, intentions, projections, estimates, and assumptions. These forward-looking statements are based on the reasonable evaluation and opinion of the management but are subject to risks and uncertainties which are beyond the control of 3W Power and, as a general rule, difficult to predict. The management and the company cannot and do not, under any circumstances, guarantee future results or performance of 3W Power and the actual results of 3W Power may materially differ from the information expressed or implied in the forward-looking statements. As a result, investors are cautioned against relying on the forward-looking statements contained herein as a basis for their investment decisions regarding 3W Power. 3W Power undertakes no obligation to update or revise any forward-looking statement contained herein.
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23.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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Language: English Company: 3W Power S.A. / AEG Power Solutions 19, rue Eugène Ruppert L-2453 Luxemburg Grand Duchy of Luxembourg Phone: +31 20 4077 800 Fax: +31 20 4077 801 E-mail: janine.rechel@aegps.com Internet: www.aegps.com ISIN: LU1072910919, DE000A1A29T7, WKN: A114Z9 , A1A29T, Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Munich, Tradegate Exchange End of News DGAP News Service ---------------------------------------------------------------------------
523685 23.11.2016
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