sonoVTS intends to press ahead with restructuring in the insolvency proceedings

Stefan Waldherr appointed as provisional insolvency administrator

The competent district court of Landshut then appointed Stefan Waldherr, a lawyer from the nationally
renowned law firm of JAFFÉ Rechtsanwälte Insolvenzverwalter, as the provisional insolvency
administrator. “Together with the Board of Management, I have already held initial discussions with
the key customers of sonoVTS and I have received positive signals on their part with regard to the
ongoing projects. We have also already held initial discussions with potential investors, so we are
currently very confident about the future prospects,” said Stefan Waldherr in an initial assessment

"Nothing will change for our customers with regard to cooperation as a result of the insolvency
proceedings, nor will the contacts in the company be affected. Business operations will continue at full
capacity and without interruption; all orders will be processed as agreed,” stresses Stefan Krömer.

sonoVTS ensures TV transmission at FIFA World Cups
sonoVTS is an internationally sought‐after partner in the broadcasting of major sporting or political
events. The medium‐sized company based in Eching / district of Freising is a manufacturer of
broadcasting vehicles, transmission and production facilities and also provides the transmission
technology on a rental basis. sonoVTS has a USP in its “HDQLine Broadcast Displays”. They meet all the
requirements of the technologies available on the market, especially HDR preview and IP. Customers
include radio and TV broadcasters and production companies from around the world, as well as
organisations such as FIFA. The reference projects of sonoVTS include the FIFA World Cups in 2014 and
2018, as well as the Winter Olympics in Sochi (Russia) in 2014 and the Olympics in Rio de Janeiro (Brazil)
in 2016.

sonoVTS 2013 was created by the merger of two previously independent companies. Consequently,
the individual parts of the business has to be more closely concentrated and production and marketing
also had to put on a uniform basis. The latest element of these measures was the amalgamation of the
two former headquarters in Feldkirchen (near Munich) and Eglhausen (Landkreis Freising) at the new
headquarters in Eching. The move was only completed in December. The funds for the implementation
of the further restructuring were not available at that time and the discussions with a new investor
could no longer be concluded in time, so the Board of Management has now applied to initiate
insolvency proceedings. Most recently the company achieved an annual turnover amounting to EUR
28 million.

The some 100 employees of the company were informed of the current situation today at a general
meeting in Eching. They received their regular wage and salary payments for November and further
payments are guaranteed until the end of February through their entitlement to insolvency benefits.

“We have already applied for pre‐financing of the insolvency benefits from the Federal Employment
Agency, so the employees will get their money for December in the next few days,” said the provisional
insolvency administrator.
“We are currently working together on stabilising business relationships with customers, suppliers and
all other parties with a significant involvement. At the same time, we intend to continue the already
intensive ongoing discussions with potential investors and to bring them to a successful conclusion as
soon as possible,” announced CEO Franz Olbert.

Further information
Stefan Waldherr is a specialist insolvency lawyer. He has worked as an insolvency administrator since
1992, heading the offices of JAFFÉ Rechtsanwälte Insolvenzverwalter in Nuremberg and Landshut. He
is regularly appointed as an insolvency administrator or trustee by a large number of insolvency
courts throughout Bavaria. Recently he was significantly involved as a trustee in the successful
financial recovery of Meiller GHP, the market leader in individualised customer communication and
dialogue marketing in Europe. JAFFÉ Rechtsanwälte Insolvenzverwalter has been one of Germany’s
leading law firms in the areas of insolvency administration, insolvency law and procedural law, in
particular in complex and cross‐border procedures, for more than two decades.