Significant approval from creditors for the convertible bond 2015/2020 in the vote without meeting for all of the motions 

 

Munich, 19. March 2019 – publity AG published the following ad hoc announcement on 19. March 2019

„publity AG (Scale, ISIN DE0006972508) is providing information on the results of the noteholders’ vote with respect to the convertible bond 2015/2020 (ISIN DE000A169GM5).

These votes were passed without holding a meeting, voting took place from Tuesday, 12 March 2019 (0.00 am CET) until Thursday, 14 March 2019 (midnight, CET), with the following results:

The required qualified majority of at least 75 percent of the votes was clearly exceeded in all proposed resolutions: A total of around 89 percent of the votes cast (out of approximately 58 percent of the outstanding bonds) in each case approved all proposed resolutions.

In detail, the noteholders resolved, with the required majority, to repeal the negative pledge pursuant to section 12 para. 3 lit. (ii) of the bond’s terms and conditions, according to which publity AG (apart from certain exceptions) is not allowed to assume financial liabilities (within the meaning of section 13 para. 2 of the bond’s terms and conditions) in the amount of more than EUR 5,000,000.00. In addition, the noteholders have resolved that, in the event that publity AG assumes such new financial liabilities, the noteholders shall be entitled to request, in accordance with a specific procedure, an early redemption of their notes plus accrued interest. Furthermore, the noteholders have resolved to confirm and extend the existing mandate of the joint representative and, in particular, to enhance it with the task and power to monitor the proper implementation of the resolutions in the interest of the noteholders and to keep them duly informed about the implementation steps.

publity AG welcomes the fact that the proposals it has submitted have been fully approved by the bondholders and that the bondholders have thus given it the opportunity to take up new financial liabilities in compliance with the newly resolved procedure. The review, announced on 28 January 2019, of options for a potential new financing on the debt capital markets is still ongoing.” 

One Square will inform the bondholders about further developments and is available for queries, at publity@onesquareadvisors.com.

 

Kontakt

One Square Advisory Services GmbH
Theatinerstr. 36
80333 München

publity@onesquareadvisors.com

www.onesquareadvisors.com


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