Airopack Technology Group AG (“Airopack”) announced on June 6, 2019, that by decision dated June 5, 2019, the Cantonal Court of Zug, at the request of Airopack and its provisional administrator, has granted a definitive composition moratorium (definitive Nachlassstundung, a sort of Chapter 11 arrangement) for four months and has appointed Dr. Daniel Hunkeler, Baur Hürlimann AG, as definitive administrator (definitiver Sachwalter). The definitive moratorium will expire on October 14, 2019, but may be extended.
The Board of Directors will provide further updates, in particular on the progress of the definitive composition moratorium phase, as needed.