DGAP-News: Ekosem-Agrar AG / Key word(s): Bond
Ekosem-Agrar AG invites to second noteholders’ meetings – Agreement on improved resolution proposals to be reached shortly
Walldorf, 10 May 2022 – The Management Board of Ekosem-Agrar AG, the German holding company of Russian milk producer Ekoniva Group, announces that, as had been expected, less than 50 percent of the outstanding bonds were represented at each the noteholders’ meeting of the Ekosem-Agrar bond 2012/2022 (ISIN: DE000A1R0RZ5) on 9 May 2022 and the noteholders’ meeting of the Ekosem-Agrar bond 2019/2024 (ISIN: DE000A2YNR08) on 10 May 2022. This means that the meetings were not quorate.
Due to the insufficient attendance, the company invites noteholders to a second noteholders’ meeting. At these meetings, a reduced quorum of 25% of the outstanding bond volume is required for resolutions on the restructuring measures. The second meeting of holders of the ESA bond 2012/2022 will be held on 30 May 2022, while the meeting of holders of the ESA bond 2019/2024 will be held on 31 May 2022, in each case in Sinsheim. The invitations to both meetings were today published in the Federal Gazette and on the website of Ekosem-Agrar AG.
Agreement with noteholders’ advisory council and (designated) Joint Representative on adjusted measures to be reached shortly
As already communicated, the Management Board is in constructive talks with the (designated) Joint Representative of the bonds as well as the newly created noteholders’ advisory council, which also includes a representative of Schutzgemeinschaft der Kapitalanleger (SdK), in order to negotiate an adjusted set of measures for the restructuring of the two bonds. These talks are nearing conclusion and an agreement is within reach. The new proposals are expected to be formulated shortly as a countermotion and published by all parties involved (company, (designated) Joint Representative, noteholders’ advisory council) in a press release. Ekosem-Agrar will then put this adjusted set of measures to the vote at the upcoming second noteholders’ meetings.
Wolfgang Bläsi, CFO of Ekosem-Agrar AG: "We are well on the way to agreeing on an improved set of measures that will materially enhance the position of the noteholders, while at the same time creating a reasonable framework for the company to act within. Every single vote of the noteholders is needed to enable a quorum at the upcoming second noteholders’ meetings. We therefore ask all noteholders to attend the second noteholders’ meetings or to be represented by a proxy."
The company therefore calls upon all noteholders to request as soon as possible the Special Verification of ownership of the bonds and the blocking notice required for the meetings from their custodian bank. For more information on how to attend, click here.
For more information, visit http://www.ekosem-agrar.de/en/investor-relations/.
10.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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