EQS-Adhoc: Airopack Technology Group AG: Airopack exercises its option to settle the purchase price of IP

EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Agreement 
Airopack Technology Group AG: Airopack exercises its option to settle the 
purchase price of IP 
 
29-Dec-2017 / 18:01 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
 
Ad-hoc release / Press Release 
 
*Airopack exercises its option to settle the purchase price of IP* 
*for a fixed amount* 
 
*Waalwijk, 29 December 2017* *- Airopack Technology Group AG ("Airopack"), 
manufacturer of the Planet Friendly Aerosol is pleased to announce it has 
exercised its option to settle the purchase price of the IP acquired in 2004 
from a third party for a fixed amount.* 
 
In 2004, Airopack acquired IP of part of the technology used in the pressure 
control device of Airopack from a third party. The purchase price of that IP 
was determined by a perpetual earn-out model. 
 
In 2013, Airopack entered into an agreement with the former owner, granting 
Airopack the option to settle the purchase price for a fixed amount of EUR 
25 million by 31 December 2018 at the latest, whereby it was agreed that 
Airopack would pay a certain amount per Airopack sold as an advance payment. 
As at 31 December 2017, the unpaid amount under this agreement is 
EUR 24.1 million. 
 
Airopack has now exercised its option to settle the purchase price of the IP 
for the aforementioned amount of EUR 24.1 million and at the same time 
reached an agreement on the payment of the purchase price in quarterly 
increasing instalments, with the final instalment being payable by 30 June 
2021. As consideration for the extended payment schedule, Airopack will pay 
a fixed amount of EUR 0.4 million together with the final instalment. 
 
Frans van der Vorst, Chief Operating Officer Airopack commented: "_We are 
pleased with the outcome of the discussions on the extended payment plan 
which will allow Airopack to settle the purchase price over the next 4 years 
at a pace matching the expected development of its operating cash flows_." 
 
Airopack produces a safe, all-plastic pressurized Planet Friendly Aerosol 
powered purely by air that is environment and planet friendly. It was 
developed by Airopack Technology Group, which holds the relevant patents and 
is worldwide the sole producer of this unique Planet Friendly Aerosol. 
Airopack has a worldwide customer base including multiple AAA leading 
personal care brands. 
 
=--END--- 
 
*For more information:* 
 
*For investors*: 
 
Airopack Technology Group AG 
Quint Kelders, CEO / Liebwin van Lil, CFO 
 
E: [e-mail] 
E: [e-mail] 
 
T: [phone] 
 
*For media :* 
 
Hill + Knowlton Strategies 
Charlotte de la Rambelje - de Voogd 
 
E: [e-mail] 
T: [phone] 
 
Airopack Technology Group AG is a leading developer and supplier 
of mechanical and pressure-controlled dispensing packaging 
technologies and systems for manufacturers and suppliers of 
cosmetics, body care, home care, pharmaceutical and food 
products. The revolutionary and patented Airopack(R) technology 
offers a safe, all-plastic pressurized dispenser that is 
environmentally and planet friendly. Airopack Technology Group 
holds the patent and is worldwide the sole producer of this 
unique dispenser. 
 
Airopack Technology Group operates a production facility for 
Airopack ready-to-fill dispensers in Waalwijk, The Netherlands 
and a full-service filling operation for ready-to-sell Airopack 
dispensers in Heist-op-den-Berg, Belgium, that also develops and 
manufactures other innovative packaging solutions for personal 
care customers. The Global Research and Development Team and the 
Airopack Global Management as well as the Customer Service 
Organisation are also based in Waalwijk, The Netherlands. 
 
The shares of the company are listed on the Swiss Reporting 
Standard of the SIX Swiss Exchange since 2010. (Ticker: AIRN / 
ISIN: CH0242606942). 
                     www.airopackgroup.com 
 
End of ad hoc announcement 
Language: English 
Company:  Airopack Technology Group AG 
          Blegistrasse 5 
          6340 Baar 
          Switzerland 
Phone:    [phone] 
Fax:      [phone] 
E-mail:   [e-mail] 
Internet: www.airopackgroup.com 
ISIN:     CH0242606942 
Listed:   SIX Swiss Exchange 
 
End of Announcement EQS Group News Service 
 
642297 29-Dec-2017 CET/CEST 
 
 

(END) Dow Jones Newswires

December 29, 2017 12:01 ET (17:01 GMT)