on ADO Properties S.A. (isin : LU1250154413)
Adler Group's Extraordinary General Meeting Approves Comprehensive Recapitalisation
Luxembourg, 9 August 2024 – The reconvened Extraordinary General Meeting (EGM) of Adler Group S.A. has approved amendments to the articles of association. This includes authorizing the Board of Directors to issue voting securities representing 75% of the voting rights. This decision marks a significant step towards stabilising the Group.
Bondholders invested in the 2L Notes will receive 75% of the voting rights of Adler Group. These rights will not participate in dividends. Adler Group aims to complete the recapitalisation by September 2024.
Thierry Beaudemoulin, CEO of Adler Group, expressed gratitude for shareholder support, stating that the recapitalisation provides the company with more time to execute its strategy. Stefan Brendgen, Chairman of the Board, added that the initiative aims to stabilise Adler Group and offer long-term benefits to all stakeholders.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all ADO Properties S.A. news