Ekosem-Agrar AG is in a financial crisis due to the impact of the Russian-Ukrainian conflict and is calling general meetings for bond restructuring

0

Ekosem-Agrar AG / Keyword(s): Surety/Financing
Ekosem-Agrar AG is in a financial crisis due to the impact of the Russian-Ukrainian conflict and is calling general meetings for bond restructuring

05-Apr-2022 / 15:00 CET/CEST
Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ekosem-Agrar AG is in a financial crisis due to the impact of the Russian-Ukrainian conflict and is calling general meetings for bond restructuring

Walldorf, April 5, 2022 – The board of directors of Ekosem-Agrar AG announces that the company is going through a financial crisis due to the impact of the Russian-Ukrainian conflict. The main reasons for this are, on the one hand, that inputs payable in euros and USD, such as seeds, fertilizers and spare parts for agricultural machinery, have become considerably more expensive and that the supply of inputs has been affected, in some cases massively, in terms of delivery capacity and logistics. On the other hand, the refinancing on the capital market of Russian-related enterprises and the provision of liquidity have become considerably more difficult, and payment transactions between the Russian Federation and Germany have been severely restricted due to sanctions and restrictions imposed by both parties.

In addition, the management board of Ekosem-Agrar AG announces that it has decided, with the agreement of the supervisory board, to offer bondholders partial bearer bonds of 78 million euros at 8.5% (ISIN: DE000A1RORZ5 / WKN A1RORZ) (“ESA bond 2012/2022“) and EUR 100 million 7.5% partial bearer bonds (ISIN: DE000A2YNR08 / WKN A2YNR0) (“ESA bond 2019/2024“; ESA Bond 2012/2022 and ESA Bond 2019/2024 together”ESA Bonds“) to adopt resolutions regarding a concept for the restructuring of these bonds. The concept for the restructuring of the ESA bonds essentially contains the following key points:

– Resolutions on the restructuring of the ESA Bonds, in particular on the extension of the maturity dates of the principal claims of the ESA Bonds by an additional five years in each case and the reduction of the interest rate to 2.5% per annum, combined with a qualified subordination to the interest,

– Resolutions on the exclusions of the put repurchase options in the event of a change of control in the event of an assignment and transfer of the shares held directly and indirectly by Ekosem-Agrar AG in the Russian intermediate holding companies if an assignment and a transfer became necessary for reasons policies in Russia to ensure the survival of the company and

– Resolution on the appointment of e.Anleihe GmbH with registered office in Stuttgart, represented by its managing director Mr. Christoph Chardon, as common representative of ESA Bond 2012/2022.

In this context, the bondholders of the ESA 2012/2022 Bond are invited to the bondholders’ meeting scheduled for May 9, 2022 and the bondholders of the ESA 2019/2024 Bond to the bondholders’ meeting scheduled for May 10, 2022, in each case to 74889 Sinsheim. Notice of the meetings of bondholders will be published today in the German Federal Gazette (Bundesanzeiger).

Contact

Ekosem-Agrar AG

Ekosem-Agrar AG // Tel: +49 (0) 6227 3585 919 // E: ir@ekosem-agrar.de

Press / Investor Relations

Fabian Kirchmann, Anna-Lena Mayer // IR.on AG // T: +49 (0) 221 9140 970 //
E: presse@ekosem-agrar.de

05 April 2022 CET/CEST DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.dgap.de

Share.

Comments are closed.