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

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

1707083  18-Aug-2023 CET/CEST