The Managing and Supervisory Boards of OTI Greentech AG (WKN A0HNE8) today resolved to propose a simplified capital reduction according to Sections 229ff. of the Aktiengesetz (AktG – German Public Limited Companies Act) to the next ordinary general meeting on 27 June 2018. This capital reduction will serve to compensate for impairments and to cover other losses. Subject to the finalisation of the single company annual accounts, it is intended that a proposal be made to the general meeting to merge 15 no-par value bearer shares to form one no-par value share in connection with a simplified capital reduction.
In addition, the Managing Board of OTI Greentech AG is currently involved in discussions with holders of the convertible bonds issued by the company, with the aim of either extending these at a reduced interest rate or, subject to a resolution being passed on the simplified capital reduction by the general meeting and its entry in the commercial register, converting these entirely or to the extent possible.
The full invitation to the ordinary general meeting of OTI Greentech AG including the agenda and proposed resolutions will be published soon in the Federal Gazette and on the company’s Web site at www.oti.ag.