Large Majority In Favour Of Promissory Note Loan Extension

BRANICKS AG

26/03/2024 15:24

March 26 (Reuters) - BRANICKS GROUP AG  BRNKn.DE :
    * BRANICKS GROUP AG: LARGE MAJORITY IN FAVOUR OF EXTENSION
OF
PROMISSORY NOTE LOANS, EXTENSION OF BRIDGE FINANCING ALSO
SECURED – CHANGE IN THE CHAIRMANSHIP OF THE SUPERVISORY BOARD
INTENDED
    * AS A RESULT, AIM PURSUED BY MANAGEMENT BOARD FOR A UNIFORM
EXTENSION OF RELEVANT PROMISSORY NOTE LOANS TO JUNE 30, 2025,
COULD BE ACHIEVED.
    * DISTRICT COURT OF FRANKFURT AM MAIN CONFIRMED
RESTRUCTURING PLAN
IN COURT
    * SUPERVISORY BOARD IS EXPECTED TO ELECT A NEW CHAIRMAN FROM
AMONG
ITS MEMBERS BY MID-APRIL 2024
    * BRANICKS GROUP AG - EXTENSION OF TERM CONCERNING REMAINING
EUR
160 MILLION UNTIL 31 DECEMBER 2024
    * CURRENT CHAIRMAN OF SUPERVISORY BOARD, PROF. DR. GERHARD
SCHMIDT, WILL CONTINUE TO BE A MEMBER OF SUPERVISORY BOARD AND
WILL REMAIN CHAIRMAN OF SUPERVISORY BOARDS OF VIB VERMÖGEN AG
AND BBI BÜRGERLICHES BRAUHAUS IMMOBILIEN AG

Source text for Eikon:  ID:nEQ5wcv1ka 
Further company coverage:  BRNKn.DE 

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