Pankl Racing Systems AG: Pankl funds growth and redeems ULSG credit early

Pankl Racing Systems AG  / Key word(s): Miscellaneous

01.06.2012 08:00

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Pankl Racing Systems AG - Pankl funds growth and redeems ULSG credit early
Kapfenberg, 1 June 2012

Pankl took out a 5-year loan in the amount of EUR 20m from a bank
consortium led by Raiffeisen Bank International. In addition the consortium
consists of Steiermärkische Bank und Sparkassen AG and the
Raiffeisenlandesbanken Oberösterreich and Niederösterreich. The proceeds
are used to fund growth and to repay the ULSG loan early.

Pankl CEO Wolfgang Plasser: 'We are in the middle of a major growth period
with the biggest capex programme of our corporate history. This loan
improves our financing structure. The early redemption of the ULSG loan
also removes restrictions to distribute dividends. Our shareholders can
therefore expect higher pay-out ratios in the future.'

For further information:
Investor Relations
Brigitte Putz
Tel.: +43 3862 33 999 317
e-mail: ir@pankl.com
Internet: www.pankl.com


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Language:     English
Company:      Pankl Racing Systems AG
              Industriestraße West 4
              8605 Kapfenberg
              Austria
Phone:        +43 3862 33 999 -317
Fax:          +43 3862 33 999 -810
E-mail:       ir@pankl.com
Internet:     www.pankl.com
ISIN:         AT0000800800
WKN:          914732
Listed:       Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
              Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel /
              Official Market)
 
End of Announcement                             DGAP News-Service
 
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