VARTA AG Announces Financial Reorganization with StaRUG Proceedings

VARTA AG has declared its intention to notify the Stuttgart local court about a restructuring initiative under the German Corporate Stabilization and Restructuring Act (StaRUG). This decision follows productive discussions with financial creditors and potential investors, including a company managed by the current majority shareholder, DDr. Tojner, and Dr. Ing. h.c. F. Porsche AG.

The management anticipates reaching a quick agreement on one of two different restructuring proposals. Both aim to provide significant liquidity, reduce debt, and improve the Company's equity ratio. These plans involve reducing the Company’s share capital to zero, followed by a capital increase and delisting of VARTA AG shares.

Due to likely challenges in securing shareholder approval for the capital measures, the restructuring will proceed under StaRUG. The management board will also convene a general shareholders’ meeting to address significant losses.