Report of the Meeting of the Joint Representatives from 17.09.202117. September 2021
to the bondholders
Solar Finance Management AG:
Approval procedure for maturity extension in progress
Schaan, 29.06.2021 Solar Finance Management AG is continuing its restructuring course. The maturity of the bonds (bearer bonds) from 2010, No. 1, No. 2, and No. 3, has been extended until 30.06.2026 in the course of the creditors’ meetings. The court approval of these resolutions is pending.
Solar Finance Management AG (formerly Carpevigo Renewable AG) is continuing its restructuring course.
On 20.04.2021, creditor meetings were held in which the Common Representative – as in 2016 – agreed to extend the term of the three bonds by a further 5 years, with an interest rate of 1.5% per annum. The vast majority of the bondholders support this course.
Due to Corona, it was not possible to hold the creditors’ meetings earlier. There have been permanent consultations between the company and the person responsible at the District Court of Vaduz. It was not until April 2021 that the conditions were in place to hold an attendance meeting. Unfortunately, a written voting procedure was not possible.
The proceedings for the granting of court approval are therefore currently still ongoing. Pursuant to §125 para. 1 Schlt-PGR, the bonds are deferred from the time of the invitation to a creditors’ meeting until the end of the approval procedure. The bonds are therefore suspended on the capital market until further notice. The company assumes that the court approval will be granted soon and the prolongation agreed in the bond terms and conditions can be implemented.
Solar Finance Management AG
Natel: +41 (0)796225925