DGAP-Adhoc: Praktiker AG: Application made to open

Praktiker AG / Key word(s): Insolvency 11.07.2013 13:27 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Publication of ad-hoc announcement pursuant to Section 15 WpHG (German Securities Trading Act) Insolvency - Application made to open insolvency proceedings in relation to Praktiker and extra BAU+HOBBY stores - Max Bahr stores not affected by application - Target to set up restructuring plan Praktiker AG Am Tannenwald 2 66459 Kirkel ISIN: DE000A0F6MD5 WKN: A0F6MD Hamburg, 11 July 2013: The directors of the operating entities within the Praktiker Group, which operate the Praktiker and extra-BAU+HOBBY stores in Germany, have informed the Management Board of Praktiker AG that they have today made an application to the Hamburg Local Court (Amtsgericht) for insolvency proceedings to be opened on grounds of overindebtedness. It was stated that the continuation forecasts of these operating entities and the supply of goods to stores could no longer be ensured. Prior to that, the Management Board of Praktiker AG had denied the positive continuation forecasts of the company, after negotiations on further, initially promising restructuring finance had been unsuccessful and prior to that, the intended sale of the participation in the Luxembourg-based subsidiary Bâtiself S.A. could not be completed due to the lack of board approvals on the buyer's side. Neither the Max Bahr stores, of which there are currently 132, nor the international business of the Praktiker Group are affected by the applications. Max Bahr business operations will be maintained as usual. The stores of Praktiker's sales lines and those of extra-BAU+HOBBY are to be continued without restriction as part of the provisional insolvency proceedings. The application of the insolvency proceedings has been undertaken with the target to set up a restructuring plan. The following Hamburg-based entities within the Group have made an application to have insolvency proceedings opened: Baumarkt Praktiker Deutschland GmbH, Baumarkt Praktiker DIY GmbH, Baumarkt Praktiker GmbH, Baumarkt Praktiker Online GmbH, Baumarkt Max Bahr Praktiker Einkaufs GmbH, Baumarkt Praktiker Warenhandelsgesellschaft mbH, Baumarkt Praktiker Vierte GmbH, Baumarkt Praktiker Services GmbH, Hamburg. The application for Praktiker AG will be filed shortly. 11.07.2013 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: Praktiker AG Am Tannenwald 2 66459 Kirkel Germany Phone: +49 (0) 40 6000 11 3700 Fax: +49 (40) 600011-6126 E-mail: investorrelations@praktiker.de Internet: www.praktiker.com ISIN: DE000A0F6MD5 WKN: A0F6MD Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------