Insolvency proceedings of SKW Holding terminated - Company after operative restructuring now also financially sound

- Local Court in Munich terminates insolvency proceedings in self administration after successful implementation of insolvency pla

- World leader in desulfurization of raw iron and in cored wire after debt relief now again with solid balance

Munich, February 5, 2019 - Insolvency of SKW Stahl-Metallurgie Holding AG has been successfully terminated. Local Court in Munich (Amtsgericht München) has offset by February 1, 2019 the insolvency proceedings in self administration initiated at the end of 2017, all such after the insolvency plan has been successfully implemented. Before, by decision in date November 28, 2018 the Appellate Court Munich (Landgericht München) has rejected the last pending of two complaints filed against the confirmation of the insolvency plan by the competent insolvency court on August 14, 2018, by granting the motions of relief according to sec. 253 para. 4 Insolvency Code.

After SKW Group itself could implement an operative restructuring, this means, that SKW Holding with such debt relief now is also financially restructured. This because US-Finance Investor Speyside Equity has swapped an essential part of his credit claims against the Company in equity. Speyside now owns 100 % of shares in SKW Holding. The remaining credit claims are provided by the new shareholder as a long term loan in order to finance the operative business of SKW Group.

Former shareholders have exited the Company after their shares have been transferred to Speyside Equity. SKW share (DE000SKWM021) has been delisted by January 15, 2019. For all non-subordinated insolvency creditors, the insolvency plan provides for full economic satisfaction of 100% of their respective claims.

SKW CEO Dr. Kay Michel: "By termination of insolvency SKW Holding now finally is again a normalized company with sufficient capital base and standard market debt ratio. In this regard my special thanks go to all the employees in our group who succeeded, during the insolvency proceedings that took much longer than expected, not only to sustain our operative business but event to further develop it."

Custodian Dr. Christian Gerloff (Gerloff Liebler Rechtsanwälte): "In many views these were extraordinary proceedings taking much longer than necessary because of permanent opposition by a group of shareholders. Even better that in such case we managed to continue the business operations and to avoid job cuts, all that linked with a full satisfaction of all creditors."

Contact
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Telefon: +49 89 99 24 96 30
E-Mail: office@elsner-kommunikation.de
Internet: www.skw-steel.com

About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group
The SKW Metallurgie Group is a global market leader for chemical additives for hot metal desulphurization and for cored wire and other products for secondary metallurgy. The Group's products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US, Canada, Mexico, Brazil, South Korea, Russia, the Peoples' Republic of China and India (joint venture).