PTA-Adhoc: iQ International AG: iQ International AG to Apply for Composition Moratorium (Nachlassstundung)

Friday, 12. March 2021 18:57

Public disclosure of inside information according to article 17 MAR

Zug, Switzerland, 12 March 2021 (pta034/12.03.2021/18:57) - The Board of Directors of iQ International AG, Zug, Switzerland (the " Company") has decided to file a request for a provisional composition moratorium (provisorische Nachlassstundung) with the competent court in Switzerland.

The background of this is a potential over-indebtedness of the Company, as the negotiations on a financing are proving to be more time-consuming than originally expected. The Board of Directors assumes that the Company is capable of being successfully financed and restructured.

It is expected that the competent court will appoint a commissioner (Sachwalter) who will oversee the Company's business activities in cooperation with Company management and manage the debt restructuring proceedings.

The subsidiaries of iQ International AG are not included in the application for composition moratorium.

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emitter: iQ International AG
address: Landis + Gyr Strasse 1, 6300 Zug
country: Switzerland
contact person: Eva Reuter
phone: +41 41 768 03 63
e-mail: ereuter@dr-reuter.eu
website: www.iqinternational.com

ISIN(s): CH0451424300 (share)
stock exchanges: regulated market in Frankfurt; open market in Berlin

[ source: http://www.pressetext.com/news/20210312034 ]

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