Landshut Court Authorizes Endor AG Shareholders to Convene Extraordinary General Meeting

Landshut, July 16, 2024 – Endor AG has announced that the Local Court of Landshut has authorized two shareholders to convene an Extraordinary General Meeting (EGM). The meeting will address several critical agenda items, including the current economic situation, confidence withdrawal from Management Board members, the dismissal of Supervisory Board members, and a capital increase up to EUR 70 million.

The Executive Board expressed concern that convening the EGM could jeopardize ongoing restructuring efforts under the German Corporate Stabilization and Restructuring Act (StaRUG) with investor Corsair. Changes to the Supervisory Board or capital measures could give Corsair the right to terminate interim financing, risking the company's restructuring and continuation.

The Management Board also noted that the shareholders have not provided a reliable financing concept and doubts the proposed capital increase's sufficiency. The company may face insolvency if the StaRUG proceedings fail without timely liquid funds.