Ad hoc releases 2016

Ad hoc releases 2016

23.12.2016

Repayment of HETA-financing lines by Addiko against discount planned until April 2017; contractual relations will be resolved

In the course of the sale of the SEE-banking network of HETA ASSET RESOLUTION AG ("HETA") to Advent International and EBRD in 2014, HETA granted substantial warranties and indemnities to the Austrian holding of the SEE-banking network, Addiko Bank AG ("ADDIKO"), and has maintained complex contractual relations with ADDIKO, including financing lines to ADDIKO with scheduled repayment until 2022.


25.08.2016

HETA ASSET RESOLUTION AG approves mid-term plan conforming to GSA and publishes Interim Financial Report

HETA ASSET RESOLUTION AG approves mid-term plan conforming to GSA for further wind-down and publishes Interim Financial Report by 30 June 2016


05.08.2016

Sale of affiliate Heta Asset Resolution Italia S.r.l. and publication of new investor information

Yesterday evening, 4 August 2016, HETA Asset Resolution GmbH (“HAR GmbH”), a 100% subsidiary of HETA ASSET RESOLUTION AG (“HETA”) and an Alternative Investment Fund advised by Bain Capital Credit (European Advisors), Ltd. signed a sale and purchase agreement for the sale and transfer of the entire interest in Heta Asset Resolution Italia S.r.l. (“HARIT”) including all outstanding loans granted by HETA to HARIT.

HARIT is a limited liability company (società a responsabilità limitata), incorporated under the laws of Italy, with registered office in Tavagnacco, Italy. Funds investing in the purchasing Alternative Investment Fund are managed or advised by Bain Capital Credit, LP (“Bain Capital Credit”), a leading global credit specialist, and an independently managed affiliate of Bain Capital, LLC. Upon closing of the sale, HETA will have no operational activities in Italy anymore. The closing of the transaction is conditional upon the approval of the transaction by Banca d’ Italia.

HARIT (formerly known as Hypo Alpe-Adria Leasing S.r.l.) is a financial intermediary regulated by Banca d’ Italia, duly enrolled in the New Single Register under Art.106. The divestment was conducted in an open, transparent and non-discriminatory international tender process. PwC Austria and PwC Italia acted as financial adviser to HETA. Schönherr Rechtsanwälte GmbH and Chiomenti Studio Legale acted as legal advisers to HETA.

Furthermore, HETA informs that it has published another investor information today that can be downloaded from the HETA website under Investoren/Investoren-Information 2016 ( http://www.heta-asset-resolution.com/en/investor-relations/investor-information/investor-information-2016 ) with the goal to provide additional transparency to creditors and investors (in German only). The English language version of the presentation was published at http://www.heta-asset-resolution.com/en/investor-relations/investor-information/investor-information-2016.


29.04.2016

FMA Administrative Decision II: Effects on the 2015 annual financial statements

On 10 April 2016 the FMA as resolution authority for HETA ASSET RESOLUTION AG (Heta) issued a further administrative decision in accordance with the edict of 1 March 2015 (Administrative Decision II). This has been published on the FMA website (http://www.fma.gv.at) and can also be accessed on the Heta website ( http://www.heta-asset-resolution.com/de/investor-relations/ad-hoc-releases/ad-hoc-releases-2016).

On 25 April 2016 Heta published on an ad hoc basis an initial retrospective simulation of the effects of Administrative Decision II on the interim financial statements per 1 March 2015. Heta then disclosed the annual financial statements as at 31 December 2015 on 27 April 2016. The resolution measures imposed with Administrative Decision II, such as the reduction in the equity and liabilities affected by Administrative Decision II, constitute an event in financial year 2016, the effects of which did not have to be taken into account in the annual and consolidated statements to 31 December 2015.


27.04.2016

Publication of the 2015 annual and consolidated financial statements

HETA ASSET RESOLUTION AG (“Heta”) states that the annual financial statements pursuant to the Austrian Commercial Code (UGB) / Austrian Banking Act (BWG) (separate financial statements) for the financial year 2015, drawn up on the basis of UGB/BWG and the application of the “gone concern” valuation premise, show an annual deficit of EUR -492 million (2014: EUR -7.9 billion), mainly as a result of the rescission of the Hypo Alpe Adria Restructuring Act (HaaSanG), as ordered by the Constitutional Court of Austria (VfGH) on 3 July 2015, and the reinstatement of subordinated liabilities in the amount of EUR 0.8 billion. The capital shortfall (negative equity) amounts to EUR -7.5 billion (2014: EUR -7.0 billion). The balance with Oesterreichische Nationalbank amount to EUR 4.3 billion per 31 December 2015.


25.04.2016

FMA Mandate Decree II: A first, retroactive view of the impact on already published financial data

On 10 April 2016 the Financial Market Authority in its function as resolution authority for HETA ASSET RESOLUTION AG (Heta) issued another mandate decree after the 1 March 2015 decree (Mandate Decree II) which has been published on the FMA's website (http://www.fma.gv.at) and is also accessible on HETA's website ( http://www.heta-asset-resolution.com/de/investor-relations/ad-hoc-releases/ad-hoc-releases-2016).

By virtue of the publication on 10 April 2016, Mandate Decree II has also been provided to Heta. Neither the content of the decree nor the underlying evaluation-report by BDO have been known to Heta prior to publication of Mandate Decree II. Immediately upon receipt of Mandate Decree II, Heta has started to review the impact of Mandate Decree II on HETA's balance sheet data.


10.04.2016

FMA applies resolution instruments in today’s mandate decree

On 1 March 2015 the Financial Market Authority in its function as resolution authority ("FMA") issued a decree regarding the implementation of resolution measures pursuant to the Federal Act on the Recovery and Resolution of Banks (BaSAG) ("Mandate Decree I"). This afternoon the FMA has issued another decree pursuant to BaSAG ("Mandate Decree II") imposing resolution measures pursuant to BaSAG. This recent decree is available here in in Englisch, the decree ("Vorstellungsbescheid") confirming Mandate Decree I is only available in German.


20.01.2016

Offer of Kärntner Ausgleichszahlungs-Fonds for certain debt instruments of HETA

The Kärntner Ausgleichszahlungs-Fonds (K-AF) today informed HETA ASSET RESOLUTION AG (HETA) that it intends to launch an offer for certain debt instruments of HETA for which state law stipulates a liability of the Province of Carinthia and the Kärntner Landes- und Hypothekenbank Holding.