Ekotechnika GmbH implements resolutions adopted by second bondholders' meeting

Ekotechnika GmbH implements resolutions adopted by second bondholders' meeting

16 October 2015 Corporate News

  • Amendments to the terms and conditions of the bond become effective
  • Release decision of 30 September 2015 clears the way
  • Bond to be suspended from trading
  • Bond to be rebooked to equity acquisition rights (Aktienerwerbsrechte)

Walldorf, 16 October 2015 – Since the actions for annulment do not stand in the way of the execution of the resolutions adopted by the bondholders’ meeting, as stated by Karlsruhe Higher Regional Court in its release decision (“Freigabebeschluss”) dated 30 September 2015, Ekotechnika GmbH has taken a further step to restructure the company. The bondholders’ resolution to defer the interest claims and to temporarily exclude the bondholders’ cancellation rights has been executed. The Central Securities Depository, Clearstream Banking AG, confirmed that the terms and conditions of the Ekotechnika bond 2013/18 (ISIN: DE000A1R1A18) have been amended in accordance with the resolutions adopted. These amendments to the terms and conditions of the bond were resolved by a large majority of the bondholders at their meeting on 6 May 2015.

At the bondholders’ meeting on 6 May 2015, the bondholders resolved, in particular, to transfer their bonds (ISIN DE000A1R1A18) to the settlement agent to receive, in return, one equity acquisition right per EUR 1,000 nominal value of the bond (plus accrued interest). The equity acquisition right constitutes the right to either acquire 25.65 New Series A Shares in the company (after conversion into a stock company) or receive the cash settlement from the sale of the corresponding shares.

Ekotechnika is taking all measures required to implement the exchange of notes for Ekotechnika shares (debt-to-equity swap) resolved by the bondholders in a timely manner. Ekotechnika has designated WGZ BANK AG Westdeutsche Genossenschafts-Zentralbank, Düsseldorf, to act as the settlement agent. To technically implement the transaction, the Ekotechnika bond will, after consultation with the institutions involved, be suspended from trading probably at the end of Wednesday, 21 October 2015. The equity acquisition right (ISIN DE000A169RS9) will be booked in the bondholders’ depository accounts on 28 October 2015 on the basis of the bondholdings on 27 October 2015 (evening), with the bond simultaneously removed from the account.