Statement

Dear ladies and gentlemen,

On 11 July 2023, the private limited company AEM BV located in Maasbree, the Netherlands was declared bankrupt at its own request by the Court of East-Brabant. Mr. Ralph Geelen (as a lawyer associated with Boels Zanders in Venlo) has been appointed as insolvency practitioner and mr. G.M. Drenth (as a judge at the Court of Limburg) was appointed as delegated judge.

AEM BV was forced to petition for the liquidation of the company, according to its management board, because it could no longer meet its due payment obligations. These problems stemmed from lower sales and lagging customer payments during the Covid-19 pandemic. Although the market picked up afterwards, its impact proved too small to avoid liquidation.

Discussions are currently taking place between the liquidation practitioner and the management of AEM BV. Also, several interested parties in a possible restart of AEM BV have already reported to the insolvency practitioner. Consultations will be held with these parties. Whether a restart can be realised will become clear in the upcoming period.

The insolvency practitioner expects to have a clear picture of the situation and future prospects of AEM BV by the end of week 29. We will inform you further then. Until then AEM BV will remain available, if necessary, together with its affiliated companies to remedy any calamities and malfunctions.

Should you have any questions and/or comments for the insolvency practitioner, please e-mail his colleague mr. Sander Hafkamp at sander.hafkamp@bz.nl.