EQS-News

Ekosem-Agrar AG publishes financial statements for 2022 - auditor issues disclaimers of opinion

EQS-News: Ekosem-Agrar AG / Key word(s): Annual Report Ekosem-Agrar AG publishes financial statements for 2022 - auditor issues disclaimers of opinion 23.04.2024 / 15:00 CET/CEST The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG publishes financial statements for 2022 - auditor issues disclaimers of opinion

• Background in particular high uncertainty due to the Russia-Ukraine conflict
• Noteholders are called upon to vote on restructuring concept

Walldorf, 23 April 2024 - Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, today published its Annual Report for the financial year 2022. In this context, the company's auditor, DWP AG Wirtschaftsprüfungsgesellschaft, issued disclaimers of opinion on the separate and consolidated financial statements, as for the last two financial years. Due to the lack of waivers from the financing banks and the effects of the Russia-Ukraine conflict, the auditor is not in a position to issue a final audit opinion. In particular, it was not possible to provide sufficient evidence regarding the possibility of exercising control over the Russian subsidiaries and the cash and cash equivalents available there in the future, or regarding key planning assumptions.

Against the background of existing and impending restrictions, the noteholders of the Ekosem-Agrar bonds 2012/2027 (ISIN: DE000A1R0RZ5) and 2019/2029 (ISIN: DE000A2YNR08) are currently called upon to vote on the restructuring of the bonds. The company would like to point out that noteholders should make use of their voting rights to ensure that the upcoming noteholders' meetings reach the necessary quorum for a resolution. The first noteholders' meetings will take place on 2 May 2024 in Wiesloch. If the quorum is not reached, the second noteholders' meetings are expected to take place on 3 and 4 June 2024.