Agri Resources Group S.A. Receives Overwhelming Bondholder Approval on Key Resolutions

On March 18, 2024, Agri Resources Group S.A. announced a significant development regarding the bondholder voting process for its 2021/2026 Notes, indicating strong support for the company's proposed resolutions. The voting, held from March 13 to March 15, 2024, saw a participation rate exceeding the necessary quorum with 54.41% of the outstanding notes taking part. This turnout comfortably surpassed the required 50% threshold, showcasing the bondholders’ active engagement in the company's strategic decisions.

The proposed resolutions, encompassing key changes in the terms and conditions of the Notes, were passed with an overwhelming majority. These included a two-year extension of the Notes' term, adjustments in the interest retention policy until repayment, and modifications to early redemption provisions and default event triggers. Additionally, certain issuer undertakings were deleted as per the bondholders' approval. Despite the introduction of an additional agenda item by a noteholder, regarding the appointment of a noteholder’s representative, it was not adopted as a staggering 97.57% voted against it.

This outcome empowers Agri Resources Group S.A. to advance its new business strategy with strong backing from its bondholders, reflecting confidence in the company's future direction.