DGAP-News: Hansa Group AG / Key word(s): Agreement/Capital Reorganisation HANSA GROUP AG concludes an agreement to reduce the financial liabilities 26.03.2014 / 11:39 --------------------------------------------------------------------- HANSA GROUP AG concludes an agreement to reduce the financial liabilities March 26, 2014 - HANSA GROUP AG today signed an agreement with its financing banks which sets a binding frame for the operational and financial restructuring of HANSA GROUP AG following the signing of the announced restructuring framework-, waiver- and loan agreements with one of its main shareholders, financing banks and central financing partners in the past days. The agreement stipulates a reduction of the financial liabilities owed to financing banks and central financing partners from 109 million Euros (as of September 30, 2013) to approximately 46 million Euros by late summer 2014 which consists of a waiver of debt by the financial creditors and the replacement of loans by one of the main shareholders. This results in a significant reduction of financial burdens of the remaining yearly redemption payments. The remaining obligations have a lifetime of up to 10 years and thus allow for a long-term and stable financial framework. Next to this debt relief it is intended to strengthen the company's equity by way of capital increases in an amount of maximum 48 million Euros. The agreed measures will provide HANSA GROUP with a significantly strengthened equity base by this summer and, at the same time, reduce its debt to a low level. Liquidity will also be improved greatly due to the lowered interest and repayment obligations and the injection of fresh money. This will lay the groundwork to push ahead with the operational adjustment measures that have already been started successfully. Furthermore, the Supervisory Board of HANSA GROUP AG is planning to appoint Dominik Müser as Chief Financial Officer and Chief Restructuring Officer (CFO/CRO). In recent years, Dominik Müser has served as a member of the Management Board and Managing Director of various companies and was previously a long-standing Partner at consultancy firm Roland Berger. HANSA GROUP AG will then be joined by an experienced financial specialist and proven restructuring expert. Dominik Müser will then support the company's management team with a particular focus on the continued implementation of operational restructuring measures. Khodayar Alambeigi, Executive Chairman of HANSA GROUP AG's Management Board said: "Our aim was to comprehensively and rapidly lower the company's debt position so as to return to normalized business operations as quickly as possible. Signing these agreements has allowed us to fully attain this goal. While the operational restructuring that was started last year will require the implementation of a number of significant adjustments, we have today laid the groundwork to successfully maintain the Group as a going concern." The Management Board End of Corporate News --------------------------------------------------------------------- 26.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Hansa Group AG Fritz-Henkel-Str. 8 39307 Genthin Germany Phone: +49 (0)203-73804-109 Fax: +49 (0)203-73804-309 E-mail: [email protected] Internet: www.hansagroup.de ISIN: DE0007608606 WKN: 760860 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 259655 26.03.2014