Scholz Holding GmbH
Scholz Holding GmbH: Commercial Court in Vienna approves deferral of the interest payment on the bond 2012-2017 until 31 May 2016
Scholz Holding GmbH / Key word(s): Bond 23.02.2016 13:53 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release Scholz Holding GmbH London, 23. February 2016 Commercial Court in Vienna approves deferral of the interest payment on the bond 2012-2017 until 31 May 2016 - The Court's decision, together with the extension of the bridge facility loan received in December 2015, provides stability in order to achieve an consensual out-of-court restructuring of the capital and debt structure of Scholz Holding GmbH The Commercial Court of Vienna has approved the deferral until 31 May 2016 of the interest payment due on 8 March 2016 in respect of the EUR 182.5m 8,5% Austrian law governed bond 2012-2017 (ISIN AT0000A0U9J2/ WKN A1MLSS). The decision was made on application of Dr. Ulla Reisch, the court-appointed Curator for the bondholders. The deferral provides the stability required to allow Scholz Holding GmbH to continue the negotiation of a consensual restructuring of its capital and debt structure with its financial creditors as well as to continue its equity investor process. Several potential investors remain willing in principle to provide new equity to the business in order to fund future growth provided the financial restructuring of the current capital and debt structure proves successful. This stability is further bolstered by the bridge facility loan of up to EUR 50m (received by the Scholz Group in December 2015) being extended in parallel. Michael Thomas, Chief Restructuring Officer (CRO) of Scholz Holding GmbH, comments: "The deferral of the bond interest payment as well as the extension of the bridge facility loan clearly demonstrates the willingness of our major financial counterparties to seek a consensual financial restructuring of Scholz Holding GmbH". Contact details: Frank Elsner Kommunikation für Unternehmen GmbH Frank Elsner Tel.: +49 89 99 24 96 30 E-Mail: office@elsner-kommunikation.de 23.02.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Scholz Holding GmbH Berndt-Ulrich-Scholz-Straße 1 73457 Essingen Germany Phone: +49 7365 84-0 Fax: +49 7365 1481 E-mail: infoscholz@scholz-group.com Internet: www.scholz-group.com ISIN: AT0000A0U9J2 WKN: A1MLSS Listed: Open Market in Frankfurt ; Wien (Geregelter Freiverkehr / Second Regulated Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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