4.10.2011 | Slovenia

Conclusion of Agreements on capital increase and debt relief of banks

The targeted financial and balance sheet restructuring has been agreed today between the Company, the investors Quanmax AG and grosso holding Gesellschaft mbH and the banks. It is currently being formally finalized. The implementation requires, among other things, the approval of the Annual General Meeting of S&T, which will be called for 25 October 2011. In addition to the capital increase through the issuance of 8 million shares there will be votes on planned new appointments to the Supervisory Board. A substantial debt relief has been agreed with the lending banks and business partners in the event of acceptance of the capital increase. This set of agreements is currently the only possible transaction option, which meets the needs of the Company and the financing partners. Upon acceptance of this financing plan S&T will achieve, as a result of the agreed debt and equity measures, an increase in equity of approximately EUR 65 million.

The planned capital increase requires the exclusion of subscription rights of shareholders. Its equivalent, however, will be more than compensated by the benefits to existing shareholders from improving the capital position and securing the continued existence of the Company.

In addition to the approval of the shareholders of S&T the implementation of the transaction is conditioned amongst others to the approval of the cartel authorities and the granting of the restructuring privilege by the Takeover Commission as well as the accession of individual business partners to the financing package which is still due.

As part of the measures we refer to the amortization and repayment of S&T's share of the bond “4% BÜNDELANLEIHE 2005-2012“. It was also agreed today that the investors submit an offer for preliminary amortization to the holders of this bond, that will be published in the “Amtsblatt zur Wiener Zeitung” (Official Journal of the Wiener Zeitung) and listed under www.snt-world.com/ir
Contact
Teja Breznik Alfirev

Public Relations

Leskoškova cesta 6
1000 Ljubljana
Slovenija

Phone: +386 1 5855 200
Fax: +386 1 5855 201

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