RNS Number:5303R
ATU Auto-Teile Unger InvestmentGMBH
03 April 2008
Release
Update to all holders of the Floating Rate Notes 2014 issued by A.T.U
Auto-Teile-Unger Investment GmbH & Co. KG
Weiden, 01 April 2008. On March 13, 2008 A.T.U updated its High Yield Bond
Holders regarding the latest developments relating to the A.T.U Group. The
following statement provides a further update:
• On 01 April 2008, A.T.U Auto-Teile-Unger Handels GmbH & Co. KG has agreed
with its Senior Lenders on a definitive waiver and amendment granting to the
A.T.U Group, inter alia, a waiver of the covenant breach as of 31 December
2007, suspending the financial covenants for Q1, Q2 and Q3 2008 (with the
next covenant test for Q4), and a covenant reset.
• Aforementioned definitive waiver and amendment agreement is conditional on
the satisfaction of certain conditions precedent, in particular on a capital
injection in the amount of € 140 million by way of equity.
This release and may contain predictions concerning the future. Such statements
are based on certain assumptions made by the Management and are subject to a
number of factors and uncertainties, so that the actual future results may vary
considerably from the forecasts made. For example, these factors and
uncertainties may relate to the economic and political developments taking place
in Germany and internationally, the prevailing market conditions, the legal
framework pertaining to the automotive after sales market, the fierce
competition in our markets, the success of our expansion strategy, the
successful integration of any potential acquisitions within the group and our
ability to service our debts.
Many of the factors and uncertainties are beyond our control. We accept no
responsibility for correcting or updating any predictive statements concerning
the future at a later stage.
The information we supply is valid on its date of publication. We take no
responsibility for supplementing, amending, correcting or updating such
information in the event of a subsequent change in our assumptions or
expectations.
The statements shall not be deemed to enshrine any offer to sell securities or a
solicitation of such.
Contact:
A.T.U Auto-Teile-Unger Investment GmbH & Co. KG
- Finance and Investor Relations -
Dr.-Kilian-Str. 11
D- 92637 Weiden i.d.Opf.
Phone: +49-961-306-5644
Fax: +49-961-306-934 5644
E-mail: ir@de.atu.eu
This announcement has been issued through the Companies Announcement Service of
The Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
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