Ultrasonic AG / Key word(s): Insolvency 10.03.2015 19:01 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ultrasonic AG: As of today, negotiations with the lending banks have failed - Insolvency application will be filed Cologne, 10 March 2015 - Ultrasonic AG (Prime Standard, ISIN DE000A1KREX3, US5) announces that for now the negotiations with Cathay United Band and the consortium banks have failed and the creditors will invoke the guarantee provided by Ultrasonic AG for the syndicated loan. So far, the parties did not agree on a moratorium, therefore the management board is forced to file for insolvency. On 17 September 2014, Cathay United Bank, Co., Ltd., exercising its function as facility agent of the syndicated loan, notified Ultrasonic AG that due to the violation of essential contractual obligations the USD 60 million credit facility together with interest of USD 180,236.89 had been accelerated, indicating that it shall be entitled to enforce this claim against Ultrasonic AG as a guarantor. Following the supervisory board and the management board entered into intensive discussions with the consortium banks, which signaled readiness to negotiate and find a solution. Before a scheduled meeting with the consortium banks in Taipeh on 13 March 2015 to discuss the current situation and the further proceedings, Cathay United Bank demanded the payment of the outstanding credit facility and the accrued interest, in spite of the ongoing negotiations. Until the end of the deadline, set by Ultrasonic AG, Cathay United Bank and the consortiums banks did not reply to the request of Ultrasonic AG to clarify the situation and to grant a further moratorium. Accordingly, management board and supervisory board of Ultrasonic AG currently must assume that the lending banks will insist on their claim against Ultrasonic AG as a guarantor of the syndicated loan. In consequence, the management board is forced to file for insolvency at the local court. For enquiries: Dr. Harald Zender CEO E-Mail: [email protected] --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Disclaimer: This document is no offer for the purchase of securities in the United States of America. Securities may only be sold or offered for sale with the previous registration under the U.S. Securities Act of 1933 in the actual valid version or without previous registration only pursuant to an exemption. The shares of Ultrasonic AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933 in the actual valid version and may not be sold or offered in the United States. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares, which are referred to, are only available to relevant persons and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. 10.03.2015 The DGAP 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: Ultrasonic AG c/o BPG mbH, Graf-Adolf-Platz 12 40213 Düsseldorf Germany Phone: +86 1525 947 9902 (China); +852 966 227 40 (Hong Kong) Fax: +49 (0)211 172 9829 E-mail: [email protected] Internet: www.ultrasonic-ag.de ISIN: DE000A1KREX3 WKN: A1KREX Indices: CDAX, Classic All Share, DAXsector All Consumer, DAXsector Consumer, DAXsubsector All Clothing & Footwear, DAXsubsector Clothing & Footwear, Prime All Share Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------