Endor AG notifies restructuring plan according to StaRUG
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EQS-Ad-hoc: Endor AG / Key word(s): Miscellaneous Endor AG notifies restructuring plan according to StaRUG
Landshut, June 3, 2024 – Endor AG has today notified the District Court - Restructuring Court (‘court’) - in Munich of a restructuring project in accordance with the German Act on the Stabilization and Restructuring Framework for Companies (StaRUG). Following a comprehensive review, the lending banks decided not to support other restructuring offers because they did not consider them suitable for averting the threat of insolvency. As already communicated, part of the restructuring plan includes a partial waiver by the banks and a complete capital reduction, which would lead to current shareholders leaving the company without compensation and to the Endor AG shares delisting from the Open Market. Endor will inform the capital markets and the public about the further progress of the process in accordance with legal requirements.
Notifying person:
End of Inside Information Information and Explanation of the Issuer to this announcement: About Endor AG Endor AG develops and markets high-quality input devices such as high-end steering wheels and pedals for racing simulations on game consoles and PCs. As a “brain factory”, the company’s focus is on the creative sector. Endor carries out product development and prototype construction under its own direction and together with specialized technology partners, primarily in Germany (“German engineering”). Endor sells its products under the FANATEC brand via e-commerce primarily to end customers in Europe, the USA, Canada, Australia and Japan.
Contact: Endor AG, Investor Relations
Press and investor enquiries: Peter Herkenhoff, GFD Finanzkommunikation
03-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Endor AG |
| E.ON-Allee 3 | |
| 84036 Landshut | |
| Germany | |
| Phone: | +49-(0)871-9221-122 |
| Fax: | +49-(0)871-9221-221 |
| E-mail: | ir@endor.ag |
| Internet: | www.endor.ag |
| ISIN: | DE0005491666 |
| WKN: | 549166 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart |
| EQS News ID: | 1916699 |
| End of Announcement | EQS News Service |
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1916699 03-Jun-2024 CET/CEST
