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RNS - Gerry Weber International AG: All creditor groups approve restructuring plan with large majorities

Company: GERRY WEBER International AG Date: 2023-08-18 Language: English Register to download

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 News Details

Ad-hoc | 18 August 2023 13:50

#   

Gerry Weber International AG: All creditor groups approve restructuring plan with large majorities

Gerry Weber International AG / Key word(s): Miscellaneous  

Gerry Weber International AG: All creditor groups approve restructuring plan with large majorities  

  

18-Aug-2023 / 13:50 CET/CEST  

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.  

The issuer is solely responsible for the content of this announcement.  

  

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**GERRY WEBER International AG: All creditor groups approve restructuring plan with large majorities**

Halle/Westphalia, 18.08.2023 – In the course of the court-ordered discussion and voting meeting pursuant to the German Restructuring Act (StaRUG), all creditor groups of GERRY WEBER International AG today voted in favor of the restructuring plan with a large majority and adopted it with the required majorities. The course has thus been set for the successful implementation of the restructuring plan.

If the restructuring plan and the agreements associated with it are implemented, GERRY WEBER International AG (and thus the GERRY WEBER Group) will have access to new borrowing funds and GERRY WEBER International AG will receive substantial debt relief. As the share capital of GERRY WEBER International AG has been used up, a complete capital cut will accompany the restructuring measures on the debt side. The capital cut comprises on the one hand the reduction of the share capital to zero, so that the current shareholders of GWI will leave without compensation and the shares will no longer be listed on the stock exchange. On the other hand, the capital cut includes a capital increase to EUR 50,000.00. The new shares are to be fully subscribed by a seed investor, GWI Holding S.à r.l. with registered office in Luxembourg. The capital cut is to take place after the plan has been confirmed by the court, which can take place after the conditions precedent stipulated in the restructuring plan have been met.

The Essen Restructuring Court has set the date for confirmation of the restructuring plan for September 27, 2023.

The management board

Notifying Person:  

Florian Frank  

Member of the management board  

Tel.: +49 5201 185-140  

ir@gerryweber.com

  

  

End of Inside Information  

- - -

18-Aug-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.  

Archive at www.eqs-news.com  

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|     |     |
| --- | --- |
| Language: | English |
| Company: | Gerry Weber International AG |
|     | Neulehenstraße 8 |
|     | 33790 Halle/Westfalen |
|     | Germany |
| Phone: | +49 (0)5201 185-0 |
| Fax: | +49 (0)5201 5857 |
| E-mail: | ir@gerryweber.com |
| Internet: | http://group.gerryweber.com |
| ISIN: | DE000A255G36 |
| WKN: | A255G3 |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (General Standard) |
| EQS News ID: | 1707083 |

  

|     |     |
| --- | --- |
|     |     |
| End of Announcement | EQS News Service |

![show this](https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1707083&application_name=news&site_id=news_data)

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