Update on Meyer Burger Technology AG (MBT)

•  MBT has again missed the deadline for filing the annual financial statements

• US court documents show that MBT has already filed for debt restructuring moratorium in Switzerland on 30.05.2025

• Creditors of the convertible bonds have no longer granted a payment deferral for outstanding interest payments

• Issuer of the convertible bonds, MBT Systems GmbH, already filed for insolvency on 24.06.2025

• Sale of inventory in the USA at low values: 9 MW to be sold to a buyer for approx. EUR 1.1 million (EUR 0.12/Watt)

• Shareholders must expect a total loss, but creditors also face considerable losses

The Swiss Investor Protection Association (Schweizerischer Anlegerschutzverein, SASV) announced on 07.07.2025 that it is preparing a lawsuit against Meyer Burger Technology Ltd (MBT) and its current and former boards. Due to the further postponement of the publication of the 2024 annual financial statements by MBT to an unspecified date, the SASV informs about the latest developments in the MBT case.

According to US court documents (https://restructuring.ra.kroll.com/meyerburger/Home-DownloadPDF?id1=MzY4ODA3MA==&id2=-1), MBT filed an application for debt restructuring moratorium in Switzerland on 30.05.2025. Prior to this, the prospective buyer reported by MBT had already declared its withdrawal at the end of April. The creditors of the convertible bonds did not grant any further deferral of the interest payments that had been due for over a year. The issuer of these convertible bonds, MBT Systems GmbH, filed for insolvency at Chemnitz Local Court on June 24, 2025. MBT failed to inform its shareholders about these developments. MBT also left corresponding inquiries from shareholders unanswered.

As part of the asset liquidation in the USA, it became known (https://restructuring.ra.kroll.com/meyerburger/Home-DownloadPDF?id1=MzgzMTMzNQ==&id2=-1) that MBT's US subsidiary, which is subject to Chapter 11, has so far only been able to find a buyer for 9 MW of residential modules at a price of EUR 1.1 million. The price of EUR 0.12 per watt is significantly below the reported values, although higher module prices can be achieved in the USA due to customs duties. The remaining 32 MW have not yet been sold and are to be auctioned off in mid-August.

The latest developments confirm that MBT shareholders are threatened with a total loss. However, creditors of MBT and its subsidiaries must also expect high losses in the event of unsecured claims.

SASV still intends to take legal action against MBT as well as current and former directors and officers of the company and will await further developments. In particular, the 2024 annual financial statements and the ruling on the application for debt-restructuring moratorium should provide further clues.

Aggrieved shareholders and creditors can register with SASV using the following form to receive further information in the future.

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