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DGAP-News: MIFA: Bondholders to vote on appointment of joint representative and on deferral of interest claims and temporary exclusion of termination rights

May 23, 2014

DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Bond MIFA: Bondholders to vote on appointment of joint representative and on deferral of interest claims and temporary exclusion of termination rights 23.05.2014 / 15:15 --------------------------------------------------------------------- MIFA: Bondholders to vote on appointment of joint representative and on deferral of interest claims and temporary exclusion of termination rights - Holders of MIFA 2013/2018 bond (ISIN: DE000A1X25B5 / WKN: A1X25B) can vote during the voting period from Tuesday, 10 June 2014, 00:00 hours by and including Friday, 13 June 2014, 08:00 hours - Pursuant to MIFA bond terms, voting takes place without a meeting - Bondholders' approval shall support financial and operational reorganisation of MIFA Sangerhausen, 23 May 2014 - Due to its stressed financial situation, MIFA Mitteldeutsche Fahrradwerke AG ("MIFA") is currently developing an overall concept for its financial and operational reorganisation. In this context, MIFA emphasizes its clear intention that bondholders' interests are represented equitably as part of the development and implementation of its overall reorganisation concept. Against this background, MIFA intends to conduct a vote for the MIFA 2013/2018 bond, ISIN: DE000A1E8W96 / WKN: A1E8W9 ("MIFA bond") on the appointment of a joint representative for the bondholders. In order to ensure the development and implementation of the overall reorganisation concept, MIFA also proposes to the bondholders that they approve a deferment of the interest payment claims due on 12 August 2014, and the temporary exclusion of termination rights, in each case until 31 October 2014. Pursuant to the terms of the MIFA bond and in accordance with Section 18 of the German Bond Act (SchVG), the bondholders shall vote without a meeting. The request for holders of the MIFA bond to vote was published on Friday, 23 May 2014, in the German Federal Gazette (Bundesanzeiger) and on MIFA's website (http://www.mifa.de/investor-relations/anleihe/). The voting period begins on Tuesday, 10 June 2014, at 00:00 hours and ends on Friday, 13 June 2014, at 08:00 hours. Bondholders can find further information about the progress of MIFA's reorganisation, the bondholders' voting, and the documents required for the voting by the holders of the MIFA bonds on MIFA's website (http://www.mifa.de/investor-relations/anleihe/). Once the overall reorganisation concept has been developed, the company plans to initiate a further bondholders' voting during which the bondholders shall decide on further restructuring measures relating to the bond. About the company: MIFA Mitteldeutsche Fahrradwerke AG, headquartered in Sangerhausen (Saxony-Anhalt), is Germany's largest manufacturer of bicycles in terms of sales. The company offers a comprehensive range of bicycle models spanning entry price through to premium end. The components included in bicycle production are sourced from renowned suppliers and assembled at the company's sole production site in Sangerhausen, Germany. Business in this context focuses on product-related order production for major retail chains and OEM (Original Equipment Manufacturer) customers. E-bikes have also been manufactured since 2011. MIFA produces e-bikes for automotive manufacturer smart, manufactures for the Deutsche Post bicycle fleet, and supplies communal lending systems with multi-user vehicles, among other customers. In 2012, MIFA acquired Berlin-based e-bike manufacturer Grace and Bavaria-based cult bicycle forging company Steppenwolf, thereby intensifying its sales activities via specialist dealers. MIFA sells its bicycles predominately on its domestic German market. Further sales markets are located mainly in Western Europe. Both the operating business and administration and logistics are managed at the company's sole production location in Sangerhausen. MIFA sold around 546,000 bicycles in 2012 (previous year: around 644,000). The company generated EUR 111.3 million of sales revenue, up 10.7 % compared with the previous year (EUR 100.5 million). E-bikes represented 30.0 % of total revenue (previous year: 12.5 %). On this revenue base, the company achieved operating profit (EBIT) adjusted for acquisition effects of EUR 2.9 million (previous year: EUR 4.6 million), and correspondingly adjusted net income stood at EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been a listed company since May 2004. Its shares are traded in the Prime Standard of the Regulated Market of the Frankfurt Stock Exchange. MIFA's corporate bond is listed in the Entry Standard for bonds on the Frankfurt Stock Exchange. Contact: Mark Appoh cometis AG Unter den Eichen 7 65195 Wiesbaden Tel.: +49 (611) 205855-21 Fax: +49 (611) 205855-66 E-Mail: appoh@cometis.de End of Corporate News --------------------------------------------------------------------- 23.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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: MIFA Mitteldeutsche Fahrradwerke AG KyselhÄuser Straße 23 06526 Sangerhausen Germany Phone: 03464-5370 Fax: 03464-537251 E-mail: b.mirau@mifa.de Internet: www.mifa.de ISIN: DE000A0B95Y8 WKN: A0B95Y Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, MÜnchen (m:access), Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 270144 23.05.2014


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Source: DGAP Corporate News