OTI Greentech AG holds successful creditors’ meeting for its 2015/2018 and 2015/2019 convertible bonds

At today’s creditors’ meetings for the two 8.5% convertible bonds 2015/2018 (WKN A161GJ) and 2015/2019 (WKN A161GK) of OTI Greentech AG (WKN A0HNE8) all of the resolutions were passed unanimously by the bond-holders present. 99 percent of bond-holders for the 2015/2018 convertible bond attended, and 100 percent for the 2015/2019 bond.

The term of each convertible bond will be extended by one year. Accordingly, the 2015/2018 convertible bond now runs through to 30 October 2019, and the 2015/2019 bond now runs through to 23 May 2020. The interest rate of both bonds will be reduced, retroactively from 30 October 2017 / 23 November 2017, to 4% per annum.


In addition, the holders of the two convertible bonds temporarily waive any cancellation rights pursuant to Article 12 of the original bond conditions up to and including 31 May 2019.


Finally, the bond-holders will be granted an extraordinary cancellation right in the event that a meeting of shareholders to be held before 31 December 2018 does not agree to, amongst other, the proposed capital reduction and an adjustment of the conversion price of the bonds. Following the successful implementation of these measures it is intended that the bonds will be extended by an additional two years.


The detailed resolutions and the results of voting at both creditors’ meetings can be found online in the investor relations section of OTI Greentech AG’s website (https://oti.ag/investor-relations/) and will also be published in the Federal Gazette.