GZO AG Bondholder Meeting Indicates Strong Sentiment

The recent GZO AG bondholder meeting drew significant attention in Wetzikon, signaling immense discontent among creditors regarding the actions of the group. Notably, approximately 80% of the CHF 170 million bond capital participated, expressing skepticism towards the proposed restructuring plan which appeared to favor municipal shareholders over creditors.

Key proposals from the creditor group, led by Clearway Capital GmbH, gained substantial backing. A notable 80% of stakeholders supported a three-year bond extension, just shy of the required two-thirds majority. This move aims to allow GZO to exit the provisional composition moratorium and normalize operations. Furthermore, Gregor Greber's election as the bondholders' representative, with 81% voting in his favor, ensures transparent updates on GZO's future advancements.

The steps ahead, as emphasized by the creditors, depend on careful examination of the meeting's plans and figures.