EQS-News

Ekosem-Agrar AG invites noteholders to second noteholders' meetings on the restructuring of its corporate bonds

EQS-News: Ekosem-Agrar AG / Key word(s): Bond/Capital Reorganisation Ekosem-Agrar AG invites noteholders to second noteholders' meetings on the restructuring of its corporate bonds 07.05.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. Ekosem-Agrar AG invites noteholders to second noteholders' meetings on the restructuring of its corporate bonds

• As expected, first noteholders' meetings did not have a quorum
• Second bondholders' meetings on 3 June and 4 June 2024 in Heidelberg
• Restructuring essentially comprises the sale of the bonds at a price of EUR 300.00 per bond
• Schutzgemeinschaft der Kapitalanleger (SdK), the Noteholders‘ Advisory Committee and the Joint Representative welcome restructuring proposal

Walldorf, 7 May 2024 - Ekosem-Agrar AG, the German holding company of Russian milk producer EkoNiva Group, invites noteholders to the second noteholders' meetings of the ESA bond 2012/2027 (ISIN: DE000A1R0RZ5 / WKN: A1R0RZ) and the ESA bond 2019/2029 (ISIN: DE000A2YNR08 / WKN: A2YNR0) on 3 June and 4 June 2024 in Heidelberg. As expected, bondholders with less than 50% of the outstanding bonds participated in the first noteholders' meetings on May 2, 2024. This meant that there was no quorum for the first noteholders' meetings.

The company calls on all noteholders to make use of their voting rights and to participate in the second votes in order to achieve the quorum of 25% of the outstanding bonds now required for a quorum.

The restructuring is necessary in light of the massive change in the tax situation in Germany, the uncertain future prospects and a possible loss of economic participation in the operating business in Russia, as the company believes that the risks of a total loss for the bondholders have increased significantly. The restructuring concept gives them the opportunity to recover at least part of their investment.

The proposed measures essentially comprise the sale and transfer of the outstanding bonds including accrued interest at a purchase price of EUR 300.00 per bond with a nominal value of EUR 1,000.00. The management plans to merge the German holding company with the operating business, which is based exclusively in Russia. To this end, the shares in the Russian intermediate holding companies are to be sold to a Russian acquiring company. Talks are also continuing with potential equity investors in Russia who intend to invest up to EUR 100 million in the acquiring company. All investors are making their investment subject to the restructuring of the bonds and the sale of the intermediate holding companies to a Russian company.