Carpevigo AG: Successful release procedure

Successful release procedure

Press Release 25.06.2021

Holzkirchen, 25.06.2021. The Higher Regional Court of Munich has ruled that the extension of the term of the bond WKN AON3X2 resolved in the vote without a meeting can be implemented in the bond terms and conditions. Therefore, the requirements determined from 01.07.2021 will be effectively implemented.

In the period from 01.02.2021 to 04.02.2021, the joint representative of the bondholders held a “vote without a meeting.” It was decided to extend the bond term until 30 June 2026 while maintaining the current interest rate of 1.5% p.a. and other provisions.

There are three actions for annulment against these resolutions from a camp of professional plaintiffs. With its decision of 24 June 2021, the Munich Higher Regional Court has now ruled that these actions for avoidance do not prevent the execution of the new regulations.

Based on this release, the joint representative as chairman of the meeting can now execute the resolutions in the global deed. It provides legal certainty for the rules applicable from 01.07.2021. It remains to be seen whether the approval procedure will impact the ongoing processes, something that remains to be seen.

Carpevigo AG would like to thank the bondholders for their restructuring support. With the release decision, a significant positive step has been taken.