Adler Group S.A.: Update on Lock-Up Agreement and new money process following Restructuring Plan Convening Hearing

Luxembourg, 28 February 2023 – Adler Group S.A. (“Adler Group”) refers to

• its press release dated 20 February 2023 titled “Correction of Press Release: Amendment of lock-up agreement, commitment letters and reopening of new money participation” (the “New Money Announcement”), and
• the press releases dated 23 February 2023 in relation to the Plan Convening Hearing (as defined therein) and 27 February 2023 in relation to the Plan Meetings (as defined below).

By an order dated 27 February 2023 handed down at the Plan Convening Hearing (the “Convening Order”) in relation to the restructuring plan under Part 26A of the Companies Act 2006 between AGPS BondCo PLC and certain of its creditors (the “Restructuring Plan”), the High Court of Justice of England and Wales has granted AGPS BondCo PLC leave to convene creditor meetings on 16 March 2023 (the “Plan Meetings”).

As a consequence of the adjustments to the Restructuring Plan timetable prescribed by the Convening Order, and as further detailed in the explanatory statement published to plan creditors in respect of the Restructuring Plan:

• the Lock-Up Fee Eligibility Deadline shall be 12:00 p.m. (London time) on 16 March 2023, being the date of the Plan Meetings; and
• the Record Time, being the date and time at which (i) the relevant Plan Creditors’ entitlement to the Lock-Up Fee under the Lock-Up Agreement shall be calculated, and (ii) the New Money Providers’ commitment to provide New Money Funding shall be calculated with reference to their pro rata holdings in the SUNs, shall be 5:00 p.m. (London time) on 14 March 2023.

For the avoidance of doubt, and as notified previously in the New Money Announcement, the New Money Funding Commitment Deadline, being the date and time by which a Plan Creditor is required to execute and deliver a Commitment Letter if it intends to commit to provide the New Money Funding shall remain 11:59 p.m. (London Time) on 31 March 2023.

Contact

Investor Relations:
T +352 278 456 710
F +352 203 015 00
E investorrelations@adler-group.com