Pfäffikon SZ, 23 March 2010 – Oerlikon Group’s negotiations with its lending banks on the
restructuring of the Group’s finances are progressing. The Company has submitted to its lenders a
recapitalization plan to ensure long-term and sustainable financing for the Company. The
cornerstones of the plan provide for a reduction of the Company’s capital to approximately 5% of
today’s share capital and a subsequent increase to the original amount. The new shares according to
such plan would be issued for a total consideration of approximately CHF 1bn with subscription
rights for the present shareholders. The Company’s plan furthermore foresees that some debt be
cancelled and other debt to be converted into equity. The Coordination Committee of the Lending
Banks, Non Bank Lenders and Renova Group indicated their support of the recapitalization plan. The
Company’s recapitalization plan is subject to approval by all Lenders and also has to be approved
by the Company’s shareholders meeting.
Press Release Courtesy of Oerlikon Group
Posted on March 23, 2010
