HETA ASSET RESOLUTION AG resolves on the delisting and the withdrawal of all bonds issued by HETA ASSET RESOLUTION AG and listed on a stock exchange
HETA ASSET RESOLUTION AG, Alpen-Adria-Platz 1, 9020 Klagenfurt am Wörthersee, FN 108415i ("HETA"), has stated in its ad hoc announcement dated 21 March 2017, in which the transfer of all bonds issued by HETA and listed on the second regulated market (geregelter Freiverkehr) of the Vienna Stock Exchange as well as on the regulated market of the Luxembourg Stock Exchange to the third market (Dritter Markt, MTF) of the Vienna Stock Exchange respectively to Euro MTF market of the Luxembourg Stock Exchange was announced, that it aims to delist all bonds issued by HETA.
Start of interim distribution payments
In the extraordinary Shareholder´s Meeting of HETA ASSET RESOLUTION AG (HETA) on June 30, 2017, pursuant to section 18.10. of the HETA Statutes of June 29, 2016, a decision on the distribution of the assets to satisfy the creditors before maturity was made. HETA hereby announces that as of today the necessary organizational and technical preparations have been completed.
Supervisory Board made a decision about the updated budget and the reappointment of the Management Board starting with September 2017
The HETA ASSET RESOLUTION AG announces that the Supervisory Board approved the updated budget on Thursday, July 6th 2017. A higher recovery rate (EUR 9,6bn instead of EUR 8,8bn) is foreseen in comparison to the Wind-Down Plan 2016. A higher Wind-Down speed is expected also. 95 % of the balance sheet total should be worked out till the end of 2018. 78 % were expected so far. A full Wind-Down of the balance sheet total is assumed by the end of 2020 for the first time. No remaining portfolio will stay (so far EUR 1,1bn).
FMA decides interim distribution to HETA creditors
The extraordinary Shareholder´s Meeting of HETA ASSET RESOLUTION AG (HETA) on June 30, 2017, pursuant to section 18.10. of the HETA Statutes of June 29, 2016, made a decision on the distribution of the assets to satisfy the creditors before maturity. Expectedly in the second half of July 2017 approx. EUR 5.8 billion – this is 69,00 % distribution quota in respect of the fixed repayment quota of 64,40 % as of May 2, 2017 – will be paid out to the creditors of eligible liabilities or deposited for certain claims which are still disputed.
Sale of subsidiaries HETA ASSET RESOLUTION Auto Bulgaria OOD and HETA ASSET RESOLUTION Bulgaria OOD
HETA ASSET RESOLUTION AG („HETA“) and its subsidiary HETA Asset Resolution GmbH („HAR GmbH“) announce today, June 27 2017, that an agreement to sell or purchase 100 % of the shares in HETA ASSET RESOLUTION Auto Bulgaria OOD (HARABG) and HETA ASSET RESOLUTION Bulgaria OOD (HARBG) with a Bulgarien buyer KLSN EOOD was signed.
FMA issues administrative decision II
On 10 April 2016 the Financial Market Authority in its function as resolution authority ("FMA") issued a second mandate decree (Mandate Decree II) imposing resolution measures pur-suant to BaSAG and transferring the control and exercise of all rights and powers conferred upon the holders of shares to the FMA.
Today, the FMA issued an administrative decision about the challenge procedure relating to the Mandate Decree II (Vorstellungsbescheid), including the change in the quota of the write-down of the non-subordinated admissible liabilities of HETA from 46,02 %, pursuant to the Mandate Decree II to 64,40 %.
The administrative decision II about the challenge procedure relating to the Mandate Decree II was published on the FMA’s website ( http://www.fma.gv.at ). By virtue of this publication, the administrative decision II about the challenge procedure relating to the Mandate Decree II has also been provided to HETA ASSET RESOLUTION AG ("HETA").
Publication of annual and consolidated financial statements 2016
HETA ASSET RESOLUTION AG (“Heta”) informs, that the annual financial statements 2016 pursuant to the Austrian Commercial Code (UGB/Austrian Banking Act (BWG) (separate financial statements) report a net income of EUR 7,497 million (2015: EUR -492 million). The result for the 2016 financial year has been significantly impacted by the effects from the application of Emergency Administrative Decision II issued by the Financial Markets Authority (FMA) on 10 April 2016 in which, inter alia, a haircut to 46,02% and 0% is noted. In total, the reduction in liabilities and equity capital results in an effect of EUR +9,599 million, which is taken into account in the income statement for 2016. The net income for the year eliminates the previously reported negative equity (2015: EUR -7.5 billion).
Disclosure of inside information pursuant to Article 17 MAR
HETA ASSET RESOLUTION AG resolves on the transfer of all bonds issued by it and listed on the second regulated market (geregelter Freiverkehr) of the Vienna Stock Exchange as well as on the regulated market of the Luxembourg Stock Exchange to the third market (MTF) of the Vienna Stock Exchange respectively to the multilateral trading facility(Euro MTF) of the Luxembourg Stock Exchange.
Repayment of HETA-financing lines by Addiko according to agreement of 23 December 2016 implemented; contractual relations have been resolved
HETA ASSET RESOLUTION AG (“HETA”) informs that today Addiko Bank AG (“ADDIKO”), the Austrian holding company of HETA’s former SEE-banking network, has settled all of HETA’s financing lines originally due in 2022. In accordance with the agreement with ADDIKO of 23 December 2016 (see corresponding Ad hoc-release) a repayment of approx. EUR 1 billion was effected towards the granted financing-line. Thereby HETA’s cash deposit increased to approx. EUR 7.4 billion.