Results of GZO AG Bondholder Meeting Pending Finalization

The outcome of GZO AG's bondholder meeting remains undecided as key voting continues. Bondholders who haven't participated can cast their votes by December 27, 2024. The creditor group, led by Clearway Capital GmbH, controls 6.56% of the company's defaulted bonds and is pushing for a three-year bond term extension.

Currently, the proposal lacks full approval by CHF 785,000. The creditor group has received support from multiple bondholders who couldn't attend the initial meeting. They emphasize the importance of additional votes to secure the necessary majority, encouraging participation from those yet to vote. This, they argue, would signal dissatisfaction with GZO's restructuring plans.

The creditor group has made it clear that a favorable vote would communicate strong creditor opposition to GZO's existing restructuring strategy, potentially influencing future actions by the company and its board.