EQS-News: R-Logitech reaches quorum for bondholder vote of its 2018/2024 Notes

R-Logitech reaches quorum for bondholder vote of its 2018/2024 Notes with holders approving resolutions initiated under overall transactional framework with an ad hoc group of holders

 

Monaco, 26 June 2024 – R-Logitech S.A.M. (Company) informs that according to the notary public which acted in its capacity as chairman of the vote of the voting without a meeting which was held from 22 June 2024, (0:00) CEST until 24 June 2024 (24:00) CEST reached the required quorum with 54.45% of the outstanding nominal amount of holders of its 2018/2024 Notes (ISIN: DE000A3LJCA6). The countermotions to Item 1 and Items 3- 6 of the initially proposed resolutions which were initiated by an ad hoc group (Ad Hoc Group) reached a quorum of 51.19% of the outstanding nominal amount. The countermotions and resolutions proposed therewith were followed and supported by the Company in light of an agreement in principle with the Ad Hoc Group for an overall transactional framework.

 

The following resolutions were passed with the required qualified majority of the votes cast:

 

• Item 1 – Amendment of § 5 of the Bond Conditions (maturity, redemption, early redemption for tax reasons, at the option of the Issuer or the Bondholders) as proposed via the countermotion was approved by 96.78% of the votes cast;

 

• Item 2 – Amendment of § 4 (Interest) as proposed by the Company reached 4.47% and was thereby cancelled;

 

• Item 3 – Amendment of § 8 (Events of Default) as proposed via the countermotion was approved by 96.78% of the votes cast;

 

• Item 4 – Amendment of § 9 of the bond term and conditions (Additional Obligations) and an associated waiver of a termination right as proposed via the countermotion was approved by 96.78% of the votes cast;

 

• Item 5 – Amendment of § 3 (Security)as proposed via the countermotion was approved by 96.94% of the votes cast; and

 

• Item 6 – Issue of purchase rights to subscribe to new bonds against payment of an issue amount) as proposed via the countermotion was approved by 96.93% of the votes cast.

 

With the resolutions passed today on the 2018/2024 Notes important steps for a consensual refinancing of the Company and the R-Logitech group have been processed to implement the transactions under the transactional framework as outlined in the voting documents. The voting for the 2022/2027 Notes (ISIN: DE000A3K73Z7) is expected to be published shortly.

 

About R-LOGITECH S.A.M.:

R-LOGITECH is one of the leading international ports infrastructure operators and logistics services providers in the natural resources sector. The group’s primary business lines are port and terminal management and specialist logistics.

 

R-LOGITECH S.A.M.

investorrelations@r-logitech.com