July 23, 2019 / 4:25 AM / 5 months ago

BRIEF-Airopack Technology Group Says Agreement Reached With Major Lenders

July 23 (Reuters) - Airopack Technology Group AG:

* EQS-ADHOC: AIROPACK TECHNOLOGY GROUP - AGREEMENT REACHED WITH MAJOR LENDERS

* AIROPACK- CANTONAL COURT OF ZUG HAS APPROVED CERTAIN AGREEMENTS ENTERED INTO BY CO AND ITS SOLE REMAINING SUBSIDIARY IPS HOLDING BV WITH MAJOR LENDERS

* AIROPACK TECHNOLOGY GROUP - AIROPACK HAS AGREED, AMONGST OTHERS, TO ASSIGN CERTAIN IP RIGHTS WHICH ARE NO LONGER REQUIRED BY IT TO I.P.S. B.V.

* AIROPACK TECHNOLOGY-AIROPACK & I.P.S. HOLDING B.V. WILL BE RELEASED FROM ALL RESIDUAL GUARANTEE OBLIGATIONS IN NOMINAL AMOUNT IN RANGE OF EUR 30 MILLION

* ALL OTHER SECURITY INTERESTS GRANTED BY AIROPACK AND I.P.S. HOLDING B.V. FOR FINANCING HAVE ALSO BEEN RELEASED

* AIROPACK TECHNOLOGY-FURTHER ENTERED AGREEMENT ON COORDINATION OF STEPS & SHARING OF POTENTIAL PROCEEDS RELATION TO LIABILITY CLAIMS AIROPACK MAY HAVE

* AIROPACK - AIROPACK WILL CONTINUE DISCUSSIONS WITH ITS CREDITORS WITH A VIEW TO FINDING A SOLUTION TO EVENTUALLY EXIT DEFINITIVE MORATORIUM Source text for Eikon: Further company coverage:

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