Scholz Holding GmbH
Scholz Holding GmbH: Relevant EBITDA threshold in financial year 2017 for upside payment to the bondholders not reached
Scholz Holding GmbH / Key word(s): Bond Scholz Holding GmbH September 28, 2018 Disclosure of inside information pursuant to Article 17 MAR London, 28 September 2018 – Scholz Holding GmbH (the “Company”) has been presented with a preliminary version of the Group Financial Information for the financial year 2017. In accordance with Part C § 3(2)(a) of the terms and conditions (the “Terms and Conditions”) of the Company’s bond (ISIN AT0000A0U9J2), the Company has mandated PricewaterhouseCoopers GmbH (PwC) with the confirmation of the calculation of the Relevant EBITDA within the meaning of the Terms and Conditions. Today, PWC has presented the results of the review of the Group Financial Information and the review of the calculation of the Relevant EBITDA based on the Group Financial Information. The Group Financial Information for financial year 2017 is the basis to calculate the Relevant EBITDA by using the same data basis – apart from changes within the consolidated reporting entities due to acquisitions and divestments – and consistently applied German GAAP (HGB) like in 2016. As such, the 2017 Group Financial Information are comparable with previous financial years. The Company only holds a 20% share in Scholz Recycling GmbH and its subsidiaries since Chiho Renewable International Holding Limited has made a direct capital increase into Scholz Recycling GmbH in June 2017 to repay outstanding banks loans. The Relevant EBITDA is calculated as if the Company still owned 100% of Scholz Recycling GmbH for the entire financial year of 2017. On the basis of such a calculation, the Relevant EBITDA amounts to EUR 96.597 million. Accordingly, there will be no upside payment to the bondholders on the basis of the Group Financial Information 2017. The Company will shortly publish the final version of PwC’s confirmation to the bondholders, including a detailed explanation of the calculation of the Relevant EBITDA, and the Group Financial Information 2017, in accordance with the Terms and Conditions. Yours sincerely Scholz Holding GmbH
28-Sep-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Scholz Holding GmbH |
Betchworth House, 57-65 Station Road | |
RH1 1DL Redhill, Surrey | |
United Kingdom | |
Phone: | 0044 20 7959 2291 |
E-mail: | infoscholz@scholz-group.co.uk |
Internet: | www.scholz-group.co.uk |
ISIN: | AT0000A0U9J2 |
WKN: | A1MLSS |
Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt, Munich, Stuttgart; Vienna Stock Exchange (Second Regulated Market) |
End of Announcement | DGAP News Service |