EQS-News: SoWiTec group GmbH
/ Key word(s): Bond
SOWITEC group GmbH: As expected, voting without meeting falls just short of the required quorum; second noteholders’ meeting planned for 5 December 2023 Frank Hummel, CEO of SOWITEC group GmbH: “We would like to thank the numerous noteholders who have already participated in the voting without meeting. We need a quorum of 25% for the second noteholders’ meeting in order to be able to implement the planned measures in favor of SOWITEC group GmbH and thus also our noteholders. We therefore ask all noteholders to participate actively in the second noteholders’ meeting.” From today’s perspective, SOWITEC is not in a position to repay the bond 2018/2023 on the due date. The Company therefore calls on the holders of the bond 2018/2023 to support the restructuring process by participating in the second noteholders’ meeting. The proposed resolutions agreed jointly with SdK Schutzgemeinschaft der Kapitalanleger e.V. (“SdK”) include:
In addition, a financial obligation of the majority shareholder Frank Hummel is planned. SOWITEC will reimburse participating bondholders of the bond 2018/2023 an amount of 0.5% of the outstanding nominal value registered for the second noteholders’ meeting, but at least EUR 75.00 per deposit, whereby the payment of the participation fee is subject to the condition that the required quorum of 25% of the outstanding notes is reached. Furthermore, payment will only be made after the resolutions have been implemented. The form for applying for the participation fee is available for download on the Company’s website at www.sowitec.com/de/investor. Holders of the bond 2018/2023 who have already applied for the participation fee as part of the voting without meeting are asked to complete and submit the form for requesting the participation fee for the second noteholders’ meeting again.
14.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | SoWiTec group GmbH |
Löherstraße 24 | |
72820 Sonnenbühl | |
Germany | |
Phone: | +49 (0) 7128 3808-0 |
Fax: | +49 (0) 7128 3808-38 |
E-mail: | info@sowitec.com |
Internet: | www.sowitec.com |
ISIN: | DE000A2NBZ21, DE000A30V6L2 |
WKN: | A2NBZ2 , A30V6L |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1773269 |
End of News | EQS News Service |
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1773269 14.11.2023 CET/CEST