EQS-News
ESPG bond: Registration period for vote ends on 15 March 2024 – Quorum not yet reached – Recommendation to accept the countermotion
- Registration for ESPG bond vote ends on 15 March 2024
- Quorum not yet reached, bondholders urged to register
- ESPG supports countermotion to suspend LTV covenant
EQS-News: ESPG AG / Key word(s): Bond/Real Estate ESPG bond: Registration period for vote ends on 15 March 2024 – Quorum not yet reached – Recommendation to accept the countermotion |
- Registration for the vote only possible until 15 March 2024
- ESPG calls on all bondholders to register in order to reach the quorum
- Voting in a vote without a meeting from 18 March to 20 March 2024
- ESPG supports the counter-motion to authorise the Joint Representative to possibly suspend the total LTV covenant as of 31 December 2024
Cologne, 12 March 2024: The European Science Park Group (ESPG), a real estate company specialising in science parks, yesterday evening received and supported a countermotion to one of its
proposed resolutions for the vote without a meeting from 18 to 20 March 2024. A member of the Executive Board, who holds bonds from the 2018/2026 bond via his asset management company, has joined
the proposal of other bondholders and has implemented their suggested amendments in a countermotion submitted by his asset management company. ESPG recommends all bondholders to vote in favour of
the countermotion.
Registration for voting without a meeting may only be submitted until 15 March 2024 – necessary quorum not yet reached
The vote without a meeting will take place from 18 March to 20 March 2024. Bondholders entitled to vote must register with the notary appointed by the company, Dr Johannes Beil, by the end of 15
March 2024 at the latest. ESPG has already received registrations from bondholders with significant shareholdings. Nevertheless, the required quorum of 50 per cent has not yet been reached.
ESPG therefore asks all holders of the 2018/2026 bond to register for the vote as soon as possible and to exercise their voting rights during the voting period (18 to 20 March 2024) or to authorise
the proxy nominated by ESPG.
ESPG recommends approval of the countermotion
The submitter of the countermotion proposes that the joint representative, Mr Klaus Nieding, shall be authorised and empowered, at his own discretion, to agree with ESPG on a renewed suspension of
the total LTV covenant as of 31 December 2024. However, a corresponding authorisation with regard to the reporting date of 31 December 2025 is no longer planned.