KTG Agrar : Executive board change at KTG Agrar SE

Hamburg, 13 July 2016. The supervisory board of KTG Agrar SE (ISIN: DE000A0DN1J4) has appointed attorney Jan Ockelmann from Sozietät JOHLKE Rechtsanwälte to the executive board of KTG Agrar SE. As a Chief Restructuring Officer (CRO) he will, in the coming months, develop a restructuring plan in order to implement the insolvency process under self-administration whilst working closely with the interim trustee attorney Stefan Denkhaus who was appointed by the court. Jan Ockelmann has longstanding contacts with agricultural companies and advisers. He has also many years experience as an insolvency administrator and is familiar with the peculiarities of the process of self-administration.

The aim of the self-administration proceedings is to ensure the future of the company and KTG Group in the long term and to secure as many jobs as possible. This is the primary objective to which all other objectives must give way. Therefore the chairman of the board - in close consultation with the executive board, the supervisory board and the trustee - has resigned from the executive board and asked for the termination of his employment contract, in order to not interfere with a successful process of self-administration. From the perspective of all parties involved, this way is the best way to restructure and financially reorganise KTG Agrar SE.