Holzkirchen, 25.05.2021
The company has completed the announced StaRUG procedure.
The restructuring plan, which provides for a 5-year extension of the maturity of the two bonds at a constant interest rate of 1.5% p.a., has been duly executed in the bond terms and conditions.
In the course of voting without a meeting according to § 18 SchVG, a clear majority of the bondholders voted for the approval of the Joint Representative for the restructuring plan of February 2021. The company’s strategy contains the first implantation of the statutory options of the SchVG (2009) for the convertible bond WKN A1MA45, as well as for the Energy Bond I -WKN A1PGWY, including the five-year extension of the term until 30 June 2026, with interest at 1.5% p.a. as before.
Based on the statutory authorisation of § 19 para. 6 SchVG, the Joint Representative, has uniformly granted its approval to the plan for the two bonds. The majorities required according to § 25 StaRUG have also otherwise been achieved. The plan has thus become legally binding, and its execution in the bond conditions has already taken place.
The progress of the legal challenge brought by a professional plaintiff in the case of the convertible bond against the formal internal instruction for approval by the joint representative remains to be seen. From the company’s point of view, the voting procedure was appropriately conducted. The outcome of the proceedings does not influence the legally binding nature of the restructuring plan and the corresponding amendments to the bond conditions.
Carpevigo Holding AG would like to thank the bondholders for their approval and participation in this crucial restructuring step.