SINGULUS TECHNOLOGIES: Second bondholders’ meeting expected to reach quorum and would therefore be quorate
(Bonds SINGULUS TECHNOLOGIES AG, ISIN DE000A2AA5H5, WKN A2AA5H)
Kahl am Main, September 20, 2022 – Approximately 34 % of the outstanding bonds were registered for today’s second bondholder’ meeting regarding the SINGULUS Bond with ISIN DE000A2AA5H5 and WKN A2AA5H. The quorum of 25 % required for the quorum of the meeting is expected to be reached and the creditors’ meeting will therefore be quorate as expected.
The proposed resolutions to amend the terms and conditions of the bonds include, among other things, a temporary waiver by the bondholders of possible termination rights due to the failure to publish the audited annual financial statements for 2020 and 2021 to date. The resolutions grant the Company greater flexibility in financing. The greater financing flexibility is particularly needed for large solar projects. The Company proposes Tauris Service GmbH as the new joint representative of the bondholders.
Despite the persistently difficult environment, SINGULUS TECHNOLOGIES forecasts a significant increase in revenues and earnings according to IFRS for the current business year 2022 compared with the previous business years 2020 and 2021. In order to achieve the improved financial forecasts, business activities in all segments will have to develop according to plan. However, the Russia-Ukraine war could have a negative impact on sales development, production processes, and procurement and logistics processes, for example due to interruptions in supply chains or bottlenecks in components, raw materials, and precursors.
If the bondholders approve today’s proposed resolutions of the company, SINGULUS TECHNOLOGIES will strive to obtain the outstanding audit certificates for the annual financial statements 2020 and 2021 as soon as possible after they become legally effective.
SINGULUS TECHNOLOGIES – Thin-Film Coating and Surface Treatment
SINGULUS TECHNOLOGIES develops and assembles innovative machines and systems for efficient thin-film coating and surface treatment processes, which are used worldwide in the Photovoltaics, Semiconductor, Medical Technology, Packaging, Glass & Automotive as well as Battery & Hydrogen markets. The company’s core competencies include various processes of coating technology, surface treatment as well as wet-chemical and thermal production processes.
SINGULUS TECHNOLOGIES sees sustainability as an opportunity to position itself with innovative products. In the focus are:
- Environmental awareness
- Efficient use of resources
- Avoidance of unnecessary CO2 pollution
SINGULUS TECHNOLOGIES attaches great importance to responsible and sustainable corporate governance.
SINGULUS TECHNOLOGIES AG, Hanauer Landstraße 103,
D-63796 Kahl/Main, WKN A1681X / ISIN DE000A1681X5
Maren Schuster, Investor Relations, Tel.: + 49 (0) 160 9609 0279
Bernhard Krause, Unternehmenssprecher, Tel.: +49 (0) 172 833 2224