Creditor Group Challenges GZO's Recent Claims

On October 8, 2024, Dynamics Group AG responded to GZO AG's ("GZO") recent statements concerning the proposals from a creditor group led by Clearway Capital GmbH. These proposals will be discussed at the bondholders' meeting on October 25, 2024.

The Creditor Group has accused GZO of disseminating inaccurate information and underscores that its proposals aim to ensure equal treatment for all creditors. The proposals include extending bond maturity, raising interest rates, and improving security for creditors. GZO has yet to clarify its concerns regarding these terms.

The Creditor Group argues that GZO cannot dismiss the bondholders' decisions and highlights that entering a definitive moratorium is improbable if GZO remains solvent. If GZO opts for bankruptcy, the board might face personal liability.

Finally, the group maintains confidence in its asset valuation, carried out by experts, and criticizes GZO for rejecting these evaluations without substantiation. The group urges bondholders to back its proposals for full creditor repayment.