Ad hoc releases 2015

Ad hoc releases 2015

15.12.2015

Update Publication of creditor information

The Management Board of HETA ASSET RESOLUTION released an update to the creditor information today, which can be downloaded from the Heta website under Investors/Investor Information 2015 ( http://www.heta-asset-resolution.com/de/investor-relations/investor-information/investor-information-2015). The English version is available at http://www.heta-asset-resolution.com/en/investor-relations/investor-information/investor-information-2015.

The update provides answers to questions that go beyond the scope of the company presentation published on 20.10.2015. Creditors and investors have the opportunity to send in questions to the platform [email protected] implemented for that purpose.


20.10.2015

Publication of creditor information

In its ad hoc statement of 13 August 2015 the management board of HETA ASSET RESOLUTION AG (Heta) announced that starting from the publication of the Interim Financial Report of 30 June 2015 onwards and subject to legal restrictions it would enter in a structured dialogue with its creditors and investors aiming to provide them with further business relevant information

Heta has therefore published a company presentation today that can be downloaded from the HETA website under Investor Relations/Investor information ( http://www.heta-asset-resolution.com/de/investor-relations/investor-information/investor-information-2015) with the goal to provide additional transparency to creditors and investors.


21.09.2015

Implementation of the Memorandum of Understanding of 7 July 2015

On 7 July 2015 the Republic of Austria and the Free State of Bavaria signed a Memorandum of Understanding („MoU“) defining the cornerstones for an out-of-court settlement of the disputes pending between the Republic of Austria, HETA ASSET RESOLUTION AG („HETA“), Bayerische Landesbank, Anstalt des öffentlichen Rechts („BayernLB“) and Kärntner Landesholding. As regards to HETA this mainly concerns the proceedings of BayernLB pending before the regional court/court of appeals of Munich (Landgericht / Oberlandesgericht München) on the legal qualification of certain loans granted by BayernLB to HETA as equity substituting as well as the proceedings initiated by the Republic of Austria against BayernLB and HETA on the grounds of error with respect to the share purchase agreement of 29 December 2009 (regarding the emergency nationalisation of HETA) with HETA as defendant in each proceeding.


31.08.2015

Publication Interim Financial Report 2015

The Board of HETA ASSET RESOLUTION AG (Heta) today has published the Interim Financial Report pursuant to IFRS for the first six months 2015 showing the implementation of the wind-down plan to be ahead of the preliminary schedule. The preliminary wind-down plan shows a reduction of 80% of all assets until the end of 2018 and a total wind-down by the end of 2020.


13.08.2015

Announcement of contemplated information to creditors and investors

Since the Austrian Financial Market Authority (FMA) in its capacity as resolution authority has issued the administrative ruling on 1 March 2015 imposing a moratorium until 31 May 2016 for qualifying liabilities of HETA ASSET RESOLUTION AG ("HETA"), HETA receives multiple requests for information from creditors and investors affected by the moratorium. Since the issuance of the administrative ruling HETA has made public information on the ongoing business of HETA and important events by way of several ad hoc notifications and by way of publication of the annual financial statement of HETA as of 31 December 2014. HETA's interim financial statement as of 30 June 2015 will be published end of August.


28.07.2015

Statement regarding the decision by the Constitutional Court on the Federal Act on Restructuring Measures for Hypo-Alpe-Adria-Bank International AG (HaaSanG)

Heta Asset Resolution AG has today been informed that the Constitutional Court of the Republic of Austria (VfGH) has in its entirety repealed the Federal Act on Restructuring Measures for Hypo-Alpe-Adria-Bank International AG (HaaSanG) – which had entered into force on 1st August 2014 – with decision dated 3 July 2015, G 239/2014 et al. This Federal Act provided for the expiration of all supplementary capital emissions as well as of subordinate liabilities to the amount of approx. EUR 0.8 billion held by third parties and covered by guarantees of the province of Carinthia. The Act also applied to approx. EUR 0.80 billion (nominal value) in liabilities towards the former majority shareholder, Bayerische Landesbank (BayernLB).


17.07.2015

Sale of the SEE Bank Network to Advent International and EBRD has been completed

HETA ASSET RESOLUTION AG (Heta) announces that the last condition precedent for the completion of the sale of the former South East European bank network – now operating as Hypo Group Alpe Adria (HGAA) – to Advent International and the European Bank for Reconstruction and Development (EBRD) has been fulfilled with the receipt of the official approval of the intended extension of the banking license for HGAA by the European Central Bank (ECB) and the Financial Market Authority (FMA).

The closing of the sale has hence been successfully completed today.

AI Lake (Luxembourg) S.a.r.l., a holding company owned by Advent International and EBRD, is the new sole shareholder of Hypo Alpe Adria AG.


01.07.2015

HETA ASSET RESOLUTION AG | Pre-closing of SEE network sale to Advent International and EBRD

Heta Asset Resolution AG announces that based on a disposition authorisation issued by FIMBAG (Finanzmarktbeteiligungsgesellschaft des Bundes) it has yesterday, June 30th, in Vienna together with representatives of US-fund Advent International and the European Bank for Reconstruction and Development (EBRD), performed a so-called „pre-closing“ with respect to the sale of all shares of Hypo Group Alpe Adria AG (SEE-network). Pursuant to the pre-closing the seller and buyer have confirmed the completion of and compliance with all agreed closing conditions with a few exceptions.


23.06.2015

Signing of Term Sheet regarding Hypo-Alpe-Adria-Bank S.p.A.

HETA ASSET RESOLUTION AG (HETA) has reflected in its year-end financial statements (separate and consolidated) 2014 in connection with its refinancing lines extended to Hypo Alpe-Adria-Bank S.p.A., Udine (HBI) provisions in the amount of EUR 1.2 bn (see also annual report HETA for 2014).


17.06.2015

Publication of individual financial statements and consolidated financial statements 2014

The Executive Board of HETA ASSET RESOLUTION AG (Heta) (formerly Hypo Alpe-Adria-Bank International AG) today presented the individual financial statements 2014 according to the Austrian Commercial Code/Banking Act (UGB/BWG) as well as the consolidated financial statements 2014 according to IFRS to the Supervisory Board which approved the individual financial statements according to Art. 96 para. 4 of the Stock Exchange Act and acknowledged the consolidated financial statements.


20.05.2015

Postponement of the publication of the annual financial statements 2014/ Update of the Ad-hoc announcement of 24 April 2014

With Ad-hoc announcement on 24 April 2014 Heta Asset Resolution AG ("HETA") informed that it will not be possible to publish the annual financial statements 2014 as originally planned until 30 April 2015 and that the publication is expected by end of May 2015. HETA updates its Ad-hoc announcement of 24 April 2015 and informs that the annual financial statements 2014 will not be released as originally planned until end of May 2015, but will rather be published in June 2015.


08.05.2015

Heta files Appeal in Equity Substitution Proceedings

Heta Asset Resolution announces that it will appeal the judgment delivered today by the Regional Court of Munich I in the legal dispute between Heta Asset Resolution and Bayerische Landesbank (BayernLB). Heta Asset Resolution takes the view that both court expert Professor Peter Mülbert, Mainz, as well as the Senate presided over by judge Dr.Gesa Lutz have failed to sufficiently consider essential parts of its arguments in the dispute regarding the applicability of the Equity Substitution Act.

Heta will hence maintain its known position: the repayment ban on Bayern LB loans will only be lifted once Heta Asset Resolution will again be financially sound.


24.04.2015

Postponement of the publication of the annual financial statements 2014

Heta Asset Resolution AG ("HETA") informs that it will not be possible to publish the annual financial statements 2014 until 30 April 2015 as intended.

On 24 April 2015 the management board of HETA informed the supervisory board that the prepara-tion and audit of HETA's financial statements and HETA's consolidated financial statements for the fi-nancial year ended 31 December 2014 will not be completed in due time until 30 April 2015.


01.03.2015

Results from Asset Quality Review (AQR), Resolution Measures with respect to HETA ASSET RESOLUTION AG pursuant to the Austrian Banking Restructuring and Resolution Act (BaSAG)

As notified in the ad hoc releases of November 28th, 2014 and December 23rd, 2014, Heta Asset Resolution AG (HETA) is working on a liquidity- and wind-down-plan that has to meet the requirements of the Bundesgesetz zur Schaffung einer Abbaueinheit (Federal law for creation of a wind-down unit; GSA) to wind-down the assets of Heta in a proper, best and quickest-possible manner. Such liquidity- and wind-down-plan will also affect the financial statements 2014 of Heta. In that respect, Heta conducts an asset quality review (AQR) with the aim to re-evaluate its assets in consideration of the aim to wind-down the assets of Heta in a proper, best and quickest-possible manner.


26.02.2015

Supervisory Board appoints three new Members of the Executive Board

Heta Asset Resolution announces that the Supervisory Board appointed three new Executive Board Members on Thursday, 26th February 2015. Wirt.-Ing. Sebastian Schoenaich-Carolath was appointed Chairman of the Executive Board, previous Chairman of the Executive Board of DZ Bank Polska. Mag. Martin Handrich (previous Division Manager for ÖVAG) and Mag. Alexander Tscherteu (previous Executive Board Member of Volksbank Romania S.A.) were appointed new Members of the Executive Board.

The previous CFO of Heta Asset Resolution, Mag. Johannes Proksch, leaves the Executive Board of Heta by the middle of the year at his own request. The previous Chief Risk Officer Dr. Rainer Jakubowski remains Member of the Executive Board of Heta.