Hightex Group PLC Statement re. Suspension (0953G)

TIDMHTIG

RNS Number : 0953G

Hightex Group PLC

27 February 2015

Hightex Group plc

("Hightex" or the "Company")

Update on German Court process

The Board of Hightex Group plc requests a temporary suspension of trading pending a further announcement which it will make as soon as practicable.

Further to the announcements of 19 November and 17 December 2014, concerning the 'Eigenverwaltung' process sanctioned by the German Court to restructure the main operating subsidiary, Hightex GmbH, the Directors are expecting today to receive the recommendations to the Court from the Chief Restructuring Officer on behalf of the creditors' committee concerning the resolution of the restructuring process.

As previously described, the Eigenverwartung procedure is a German legal process similar to Chapter 11 in the United States. The objective is the reorganisation and continuation of the subsidiary.

A further announcement of the recommendations, which will be subject to subsequent Court approval, will be made as soon as practicable.

For further information contact:

 
Hightex Group plc 
Charles DesForges, Non-Executive  Tel: +49 8051 6888 
 Chairman                          200 
Frank Molter, Chief Executive     www.hightexworld.com 
 Officer 
ZAI Corporate Finance Ltd 
Nominated Adviser and Broker      Tel: +44 20 7060 2220 
 Tom Price / Irina Lomova          www.zaicf.com

This information is provided by RNS

The company news service from the London Stock Exchange

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