ESPG Bond Vote Approaching Deadline with Unreached Quorum - Urges Support for Countermotion

The European Science Park Group (ESPG), a leader in science park real estate, is nearing the registration deadline for a crucial bond vote, set to conclude on 15 March 2024, without having reached the necessary quorum. This vote, which will take place from 18 to 20 March 2024, is critical for the future financial strategy of the company. ESPG strongly encourages all 2018/2026 bondholders to register and participate in the voting process.

In an unexpected move, ESPG has endorsed a countermotion proposed by bondholders, including a significant amendment submitted by a member of the Executive Board through his asset management firm. This countermotion seeks to authorize the Joint Representative, Mr. Klaus Nieding, to negotiate a possible suspension of the total LTV covenant as of 31 December 2024, diverging from the company's initial proposal.

Despite significant interest from substantial bondholders, the required 50 per cent quorum remains unmet. ESPG extends a call to action for all bondholders of the 2018/2026 issuance to register by the deadline and exercise their voting rights, emphasizing the importance of the countermotion, which they believe aligns with the best interests of the company and its investors.

Further details and updated voting forms are available on ESPG's website, with additional information to be provided in a scheduled management call on 14 March 2024. ESPG hopes for a strong bondholder turnout to ensure the successful passage of the countermotion, which is pivotal for the company's strategic direction.