Creditshelf AG: Initiates Protective Shield Proceedings

• Creditshelf AG is entering protective shield proceedings due to unsuccessful negotiations with its main shareholder, Obotritia Capital KGaA.
• Obotritia has failed to meet its contractual obligations towards Creditshelf, specifically non-payment of a loan tranche and a junior tranche.
• The Management Board no longer considers the reliability of the hard letter of comfort issued by Obotritia to be predominantly probable.
• The EBIT forecast of EUR -2 to -1 million will not be achieved due to the necessary write-downs on assets as a direct consequence of the discontinuation of the positive going concern forecast.
• Preliminary figures indicate sales for the 2023 financial year of around EUR 4.3 million, within the forecast range (EUR 4-5 million), while EBIT will amount to around EUR -6.5 to -5.5 million.
• The protective shield proceedings offer the best opportunity for new investors to enter the company and for it to continue as a going concern.

The next important date, Publication Annual Financial Report, at creditshelf is on 30.04.2024.

creditshelf

-3,57 %

-3,57 %

-46,00 %

-89,20 %

-97,52 %

-99,43 %

-99,59 %

-99,66 %

ISIN:DE000A2LQUA5WKN:A2LQUA

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