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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
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Mergers - Acquisitions - Takeovers/Company Information 
 
Lenzing - Last week, Lenzing attempted to take operational control of Hygiene 
Austria based on the contractual agreement with Palmers. As we have not received 
full access to important documents and reliable documentation, Lenzing is not in 
a position to exercise operational management in the interest of Hygiene 
Austria's customers and to carry out the intended forensic work for resolving 
the issues comprehensively and in the required quality. 
 
The documents required for this purpose are for the most part located in 
Palmers' premises, to which Lenzing has been given neither access nor permission 
to enter. Despite the most intensive use of resources on the part of Lenzing, 
the urgently required rapid clarification with reliable results was just as 
impossible as the actual exercise of management. Lenzing therefore considers the 
responsible authorities to be responsible for dealing with the current 
allegations. Lenzing will support this process to the best of its ability. 
 
With immediate effect, the nomination of Stephan Sielaff as managing director of 
Hygiene Austria will be withdrawn and Stephan Trubrich will be removed as 
managing director. A trustee to be appointed as soon as possible will be 
entrusted with the administration of Lenzing's shares in Hygiene Austria. 
 
In the future, Stephan Sielaff will be the sole member of the Managing Board of 
Lenzing AG responsible for all agendas relating to the investment in Hygiene 
Austria. Sielaff will coordinate all decisions with the Supervisory Board. 
 
The Hygiene Austria project was co-founded by Lenzing with the deep conviction 
that Austrian quality could make an important contribution to protecting the 
population in the biggest pandemic of the last hundred years. The promise "Made 
in Austria" was obviously not guaranteed throughout. Comprehensive and unsparing 
clarification is therefore indispensable. 
 
 
 
Further inquiry note: 
Lenzing Corporate Communications 
c/o Vetter & Partner 
Johannes Vetter 
E-mail    lenzing@vetterpartner.com 
Telephone  +43 664 88578 224 
 
 
end of announcement                         euro adhoc 
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(END) Dow Jones Newswires

March 08, 2021 07:47 ET (12:47 GMT)