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SKW Stahl Metallurgie Holding AG (SK1Gn.DE)

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Latest Key Developments (Source: Significant Developments)

SKW Stahl-Metallurgie Holding says amicable settlement reached with former management board members
2:25am EDT 

SKW Stahl Metallurgie Holding AG : Said on Tuesday legal disputes with former members of the management board finally settled - SKW Metallurgie Group of companies focusses on its future . Had approved the amicable settlement reached with the former members of the management board Ines Kolmsee and Gerhard Ertl and the D&O-Insurer . The amicable settlement terminates the law-suit which has been pending at Langericht Traunstein between SKW Metallurgie group of companies and Ines Kolmsee as well as Gerhard Ertl, concerning damages in the double digit million amount for liability claims .Receives an amount of 3.35 million euros ($3.62 million) from D&O-Insurer, which will be directly cash-effective; as well as waiver of former CEO of her right to have the 50 per cent reduction of her pension rights judicially reviewed, resulting in a positive accounting effect in the amount of approximately 1.75 million euros.  Full Article

SKW Stahl-Metallurgie Holding says amicable settlement reached with former management board members
Tuesday, 21 Mar 2017 03:01pm EDT 

SKW Stahl Metallurgie Holding AG : Said on Tuesday legal disputes with former members of the management board finally settled - SKW Metallurgie Group of companies focusses on its future . Had approved the amicable settlement reached with the former members of the management board Ines Kolmsee and Gerhard Ertl and the D&O-Insurer . The amicable settlement terminates the law-suit which has been pending at Langericht Traunstein between SKW Metallurgie group of companies and Ines Kolmsee as well as Gerhard Ertl, concerning damages in the double digit million amount for liability claims .Receives an amount of 3.35 million euros ($3.62 million) from D&O-Insurer, which will be directly cash-effective; as well as waiver of former CEO of her right to have the 50 per cent reduction of her pension rights judicially reviewed, resulting in a positive accounting effect in the amount of approximately 1.75 million euros.  Full Article

SKW Stahl-Metallurgie creates base for financial restructuring and strategic repositioning
Wednesday, 1 Feb 2017 07:44am EST 

Skw Stahl Metallurgie Holding Ag : Creates base for financial restructuring and strategic repositioning . Negotiations with financing banks concluded successfully . CEO Kay Michel remains aboard until 2020 .Based on an operatively solid Q4, that guidance for 2016 is to be exceeded despite continuously demanding market conditions.  Full Article

SKW Stahl Metallurgie: SKW Metallurgie founds basic agreement with financing parties of syndicated loan contract
Thursday, 15 Dec 2016 11:37am EST 

SKW Stahl Metallurgie Holding AG : SKW Metallurgie finds agreements with financing banks on basic points of a financial restructuring . Concept for a sustainable financial restructuring of group to be implemented during course of 2017 . Banks declaring willingness to a conditional cancelation of debt and to a stand-still agreement for syndicated loan contract until December 31, 2017 . Cooperation discussions initiated to realize synergy potentials .Cornerstone of this financial restructuring is an extraordinary debt repayment of SKW Metallurgie group based on disposal of assets (mainly non-core activities).  Full Article

SKW Stahl-Metallurgie Holding says is evaluating all options for financial restructuring
Tuesday, 22 Nov 2016 07:48am EST 

SKW Stahl Metallurgie Holding AG :Evaluating all options for a sustainable financial restructuring, including the non-binding offer of MCGM - dissemination of confidential information not in the interest of the company.  Full Article

SKW Stahl-Metallurgie Holding: settlement in supervisory board
Monday, 8 Aug 2016 01:59am EDT 

SKW Stahl Metallurgie Holding AG : Settlement in the supervisory board . Motion to issue an interlocutory injunction toward the Chairperson of the Supervisory Board, Olaf Marx, has been withdrawn . Marx is to resign from the office of Chairperson of the Supervisory Board . He remains at the Company as a member of the Supervisory Board .Deputy Chairperson Volker Stegmann is to be elected Chairperson, and Alexander Kirsch Deputy Chairperson.  Full Article

SKW Stahl-Metallurgie: interlocutory injunction enjoins Olaf Marx from exercising chairperson office
Wednesday, 29 Jun 2016 12:29pm EDT 

SKW Stahl Metallurgie Holding AG : Interlocutory injunction enjoins Olaf Marx until further notice from exercising the office of chairperson of the supervisory board of SKW Stahl-Metallurgie Holding .Membership of Marx in supervisory board of company remains unaffected by injunction in question.  Full Article

SKW Stahl in talks about capital increase with India's Somani Group
Tuesday, 28 Jun 2016 01:32pm EDT 

SKW Stahl Metallurgie Holding Ag : Indian Somani group submitting non-binding letter-of-intent to strengthen equity of skw stahl-metallurgie holding ag . Letter-Of-Intent stipulates that execution of capital increase against cash is guaranteed by somani group ("backstop") under condition that somani group is to hold at least 51% of shares of company after transaction . Negotiations are in a very early stage, and it is not secured whether a transaction with somani group for financial restructuring of company is going to materialize . adhoc: skw stahl-metallurgie holding ag: indian somani group submitting non-binding letter-of-intent to strengthen the equity of skw stahl-metallurgie holding ag; conditions: restructuring contributions by providers of capital Further company coverage: [SK1Gn.DE] (Frankfurt Newsroom) ((Frankfurt.newsroom@thomsonreuters.com; +49 7565 1272;)).  Full Article

SKW Stahl: changes in composition of supervisory board
Monday, 23 May 2016 10:21am EDT 

SKW Stahl Metallurgie Holding AG : Changes in composition of supervisory board .Supervisory board elected from among its members to its chairperson Olaf Marx and to its vice chairperson Volker Stegmann.  Full Article

SKW Stahl Q1 revenues EUR 64.2 million, down 20 pct
Tuesday, 10 May 2016 12:12am EDT 

SKW Stahl Metallurgie Holding AG : Q1 consolidated revenues of 64.2 million euros were 20 pct less than Q1 2015, EBITDA declined to 3.0 million euros from Q1-2015 (6.2 million euros) .Forecast confirmed for fiscal year 2016.  Full Article

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