DGAP-Adhoc: Loewe AG: Loewe AG applies for 'Schutz

Loewe AG / Key word(s): Miscellaneous 16.07.2013 09:50 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. --------------------------------------------------------------------------- Kronach, 16 July 2013. - The Executive Board of Loewe AG has decided to submit an application with Coburg Local Court for Loewe AG and its subsidiary Loewe Opta GmbH to start 'Schutzschirmverfahren' (creditors' protection proceedings under its own administration) to assist the company in implementing its restructuring programme and its new corporate strategy more quickly. All other subsidiaries in Germany and elsewhere will continue to operate as normal and will not be involved in the proceedings. After receiving approval for the proceedings, Loewe will continue to be managed by its Executive Board and can use the opportunities offered by the new 'Schutzschirmverfahren' (creditors' protection proceedings) to restructure the company. The business at the Kronach site will continue without any restrictions. The instrument of 'Schutzschirmverfahren' (creditors' protection proceedings), which was created by the Law concerning Further Simplifications for Restructuring Companies (ESUG) which came into force on 1 March 2012, is designed to allow Loewe to restructure the company under its own administration on the basis of a sustainable and future-looking concept. During the 'Schutzschirm' phase which lasts three months, Loewe is protected from enforcement and other action by creditors whilst remaining 100% capable of trading. The aim of the Executive Board is to restructure Loewe in cooperation with strategic partners and investors. The radical revision of the company's value addition and positioning strategy which has already been started will be at the forefront of its activities. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Contacts: Loewe AG Industriestrasse 11 96317 Kronach Germany Investor Relations, Axel Gentzsch Phone: +49 (0)9261 99-240 Fax: +49 (0)9261 99-994 Mail: axel.gentzsch@loewe.de Public Relations, Dr. Roland Raithel Phone: +49 (0)9261 99-217 Fax: +49 (0)9261 99-444 Mail: roland.raithel@loewe.de 16.07.2013 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: Loewe AG Industriestrasse 11 96317 Kronach Germany Phone: +49 (0)9261 99-984 Fax: +49 (0)9261 99-994 E-mail: ir@loewe.de Internet: www.loewe.de ISIN: DE0006494107 WKN: 649410 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------