The plan was to hold an Extraordinary General Meeting on April 25, 2025, at which a capital increase totaling 350 million euros (around 375 million US dollars) was to be resolved.\u00a0 This was to be divided into a cash capital increase of EUR 150 million (approx. USD 161 million) and a non-cash capital increase of EUR 200 million (approx. USD 214 million).\u00a0 However, both measures were removed from the agenda at short notice.<\/p>\n
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Pierer Mobility is under enormous time pressure.\u00a0 Around 600 million euros (around 643 million US dollars) must be raised by May 23, 2025 in order to service the 30 percent restructuring plan quota accepted by the KTM<\/a> Group’s creditors.\u00a0 According to the management, it is \u201cin the finalization phase\u201d of negotiations with equity and debt capital providers.\u00a0 A failure of these talks would have serious consequences.<\/p>\n Without binding financing commitments, there is no basis for a positive going concern forecast – the prerequisite for accounting at going concern values.\u00a0 Otherwise, the company would have to prepare its annual balance sheet on the basis of break-up values, which would further exacerbate the situation.<\/p>\n \u00a0<\/p>\n Pierer Mobility had already announced at the beginning of April that equity would probably be significantly negative at the end of 2024.\u00a0 This is due to a massive reduction in operating performance and high restructuring costs.\u00a0 According to the company, the result for the 2024 financial year will be heavily negative.\u00a0 The loss of half of the share capital forces the company to convene an extraordinary general meeting in accordance with Austrian stock corporation law.<\/p>\n In this context, the auditor has made use of its statutory duty to speak.\u00a0 Publication of the full annual financial report has now been postponed to the end of May 2025.\u00a0 The company intends to present further preliminary key financial figures by then.<\/p>\n \u00a0<\/p>\n Originally, the rescue plan envisaged two capital measures at an issue price of \u20ac7.50 (around USD 8.04) per share:<\/p>\n These measures would have increased the share capital of Pierer Mobility AG by a factor of around 2.4 – a step that was, however, postponed until later.<\/p>\n \u00a0<\/p>\nNegative equity – Annual General Meeting necessary due to loss<\/h3>\n
Capital increase at \u20ac 7.50 per share originally planned<\/h3>\n
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Ownership structure and responsibility<\/h3>\n