SOWITEC group GmbH recommends approving the jointly coordinated supplementary motions and countermotions of SdK in the voting without meeting from 11 to 13 November 2023

SOWITEC group GmbH recommends approving the jointly coordinated supplementary motions and countermotions of SdK in the voting without meeting from 11 to 13 November 2023

Sonnenbühl, 6 November 2023 – SOWITEC group GmbH (“SOWITEC” or “Company”) has today received supplementary motions and countermotions from SdK Schutzgemeinschaft der Kapitalanleger e.V. (“SdK”) regarding its proposed resolutions for the voting without meeting of the holders of its bond 2018/2023 (ISIN: DE000A2NBZ21) from 11 November 2023 at 0:00 hours to 13 November 2023 at 24:00 hours. The supplementary motions and countermotions were coordinated between SOWITEC and SdK. The Company therefore recommends that the holders of the bond 2018/2023 approve all of SdK’s proposed resolutions.

The supplementary motions and countermotions of SdK include, inter alia:

• Increase in the interest rate from 8 November 2023 (inclusive) from 6.75% p.a. to 8.00% p.a. as well as an automatic adjustment to the interest rate of the bond 2023/2028 (ISIN: DE000A30V6L2) should this be increased to more than 8.00% p.a;
• Prohibition of distributions to shareholders and related parties until full repayment and final interest payment for the bond 2018/2023; this also includes the repayment of loans from the majority shareholder Frank Hummel or a person related to him;
• Securing the existing collateralization of the bond 2018/2023 by pledging 38% of the share capital of SoWiTec operation GmbH;
• Partial repayments of EUR 763,400 on 8 May 2024, of EUR 1,526,800 on 8 November 2024, of EUR 2,290,200 on 8 November 2025 and in certain other cases;
• Waiver of termination rights with a time limit until 8 May 2024.

Furthermore, SOWITEC will reimburse participating bondholders of the bond 2018/2023 an amount of 0.5% of the outstanding nominal value registered for the voting without meeting, but at least EUR 75.00 per deposit, whereby the payment of the participation fee is subject to the condition that the quorum required for a resolution on the amendment of the bond terms and conditions is reached, i.e. 50% of the outstanding bonds in the voting without meeting or 25% of the outstanding bonds in a possible second noteholders’ meeting. In addition, a financial obligation of the majority shareholder Frank Hummel is planned.

The complete supplementary motions and countermotions of SdK as well as further documents for the voting without meeting are available on the Company’s website at www.sowitec.com/de/investor.

About SOWITEC:
As one of the leading global project developers for renewable energies, SOWITEC is active in 13 countries with a focus on the rapidly growing emerging and developing countries. With more than 140 employees, SOWITEC covers all areas of solar and wind power project development: from planning and design, yield and profitability calculations, construction support, sales and financing to technical and commercial management of wind and solar parks. More than 60 wind and solar projects developed by SOWITEC with almost 3,000 MW are currently in operation in eight countries.
www.sowitec.com

Contact:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
089/8896906-25
linh.chung@better-orange.de