Talenthouse AG: Talenthouse AG decided to file for bankruptcy

Baar (pta024/19.07.2024/23:50 UTC+2)

(Baar / Switzerland) Talenthouse AG ("Talenthouse" or the "Company") has decided to file for bankruptcy after there are – due to recent developments – no reasonable prospects to restructure the Company anymore.

The Company applied for a provisional and then a definitive debt restructuring moratorium in order to implement a restructuring plan. Both such moratoriums were granted by the competent court, with the support of the administrator (Sachwalter). The restructuring plan consisted, in particular, in a contribution in kind by ATIS Advanced Technologies International Solution Holding S.a.r.l. ("ATIS"). The transaction agreed upon with ATIS would have allowed the Company to become a going concern again – alongside with debt equity swaps agreed upon with the Company's major creditors.

However, in the last month the Company had to learn that ATIS and its beneficial owner are not in a position to complete the planned transaction.

In the last few weeks, the board of the Company has tried to find alternatives to ATIS to still implement a restructuring transaction. However, the board has to acknowledge that such endeavors will very likely not result in any solutions reasonably catering for a timely restructuring of the Company.

Furthermore, the appeal body of SIX Swiss Exchange AG confirmed the delisting and decided that the shares of the Company shall be delisted as of 8 July 2024. Challenging such decision would have been possible, but expensive and time-consuming with an uncertain outcome. The Company thus refrained from doing so, with the consequence that the shares of the Company were delisted as of 8 July 2024.

Upholding the definitive debt restructuring moratorium, which requires reasonable prospects to restructure the Company, is in the view of the board of the Company against that background not appropriate anymore. Rather, the board of the Company has decided to file for bankruptcy in order to avoid any additional exposure to its creditors and other stakeholders.

The chairman, Roman Scharf, comments that "until now, Talenthouse AG and its board always firmly believed that continuing the restructuring process under the protection of the debt restructuring moratorium is preferable to filing for bankruptcy for all stakeholders. However, due to recent, unfortunate developments, outside of our influence, this has changed and sadly the Company has to file for bankruptcy. Talenthouse AG thanks everybody having supported the restructuring and apologizes for any inconvenience which has been, or now may be, caused to our stakeholders".

Talenthouse AG

Address: Talenthouse AG, Schochenmühlestrasse 2, CH-6340 Baar, Switzerland

Contact: Michael Wachsler, michael@talenthouse.com

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Emitter:	Talenthouse AG Zugerstrasse 8a 6340 Baar Switzerland
Contact Person:	Michael Wachsler
Phone:	+41 43 344 38 38
E-Mail:	invest@talenthouse.com
Website:	www.business.talenthouse.com
ISIN(s):	CH0010819867 (Share)
Stock Exchange(s):	SIX Swiss Exchange