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2015-08-13

Imtech: Royal Imtech N.V. declared bankrupt by Rotterdam court; Marine and Nordic divisions sold and 7,300 jobs secured; objective to preserve as much as possi

Further to its announcement made on 11 August that Royal Imtech N.V. had been
granted suspension of payments ('surseance van betaling'), Royal Imtech
announces that, upon the request of the administrators, the Rotterdam
District Court has declared Royal Imtech N.V. bankrupt ('failliet') as of
today. In addition, Imtech Capital B.V., Imtech B.V. and Imtech Group B.V.
also have been declared bankrupt as of today. The administrators during the
suspension of payments have been appointed as trustees in bankruptcy.
Royal Imtech also announces that its Marine and Nordic divisions have been set
outside of the group under the control of Imtech's financiers with a view to
a sale of those divisions or parts thereof to third parties to ensure as much
as possible the continuation of their businesses and the continued employment
of their 7,300 employees. The company has been informed by the financiers
that it is envisaged that Imtech Marine will be sold to Pon Holdings and
Parcom Capital and that a sales process for the Nordic division is ongoing
and expected to be concluded in the short term.

As of today, no companies of the Imtech group other than the companies
mentioned above and Imtech Germany are subject to insolvency proceedings.
Royal Imtech has been assured by the trustees in bankruptcy that they are
geared to preserve as many Imtech group companies as possible in the
interests of all creditors, employees and other stakeholders. Royal Imtech
has been informed by the financiers that a number of parties have expressed a
genuine interest to take over viable parts of the business.

It is noted that as Imtech's divisions, including Marine and Nordic have been
pledged to Imtech's financiers, the financiers are entitled to all proceeds
of any sale or other transaction in relation to those companies. It is not
envisaged that Royal Imtech and its shareholders will enjoy financial benefit
from any such current or future transactions.

To facilitate the process set out above and transactions to further secure as
much as possible the interests of creditors and jobs of as many employees as
possible, it is conceivable that Imtech subsidiaries will be granted
suspension of payments or will be declared bankrupt. The trustees in
bankruptcy will decide whether and when such steps will be taken.
More information
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| Media: Analysts&investors: |
| Dorien Wietsma Jeroen Leenaers |
| |
|Director Corporate Communication&CSR Director Investor Relations |
|T: +31 182 54 35 53 T: +31 182 54 35 04 |
|E:dorien.wietsma@imtech.com E:jeroen.leenaers@imtech.com |
| |
|www.imtech.com www.imtech.com |
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PDF: Press Release
http://hugin.info/130755/R/1945473/705373.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Imtech via Globenewswire

HUG#1945473

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