HELMA Eigenheimbau AG reaches agreement on financial restructuring
December 18, 2023 at 09:03 pm IST
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EQS-Ad-hoc: HELMA Eigenheimbau AG / Key word(s): Financing
HELMA Eigenheimbau AG reaches agreement on financial restructuring
18-Dec-2023 / 16:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
HELMA Eigenheimbau AG reaches agreement on financial restructuring
Lehrte, 18 December 2023 - As announced by HELMA Eigenheimbau AG (ISIN: DE000A0EQ578 / WKN A0EQ57) in the ad hoc announcement dated December 8, 2023, the negotiated financial restructuring agreement has now been signed. Based on current planning, this provides HELMA Eigenheimbau AG with a reliable basis for its business activities and the realignment of the company during the restructuring period until the end of 2027.
On the debt side, the financial restructuring agreement provides in particular for the adjustment of loan and repayment structures of the existing promissory note loans and working capital credit lines, interest deferral options and the prolongation of project financing. On the equity side, the previously announced capital increase with the exclusion of subscription rights will support the financial restructuring with a nominal contribution of EUR 3.2 million to the share capital. In addition, the company has undertaken in the restructuring agreement not to propose any dividends or other distributions to shareholders during the restructuring period.
As already announced, the restructuring plan is to be announced shortly and subsequently published.
18-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
HELMA Eigenheimbau AG is a Germany-based company that specializes in design and construction of new private residential buildings and houses. The Company diversifies its activities into three business segments: building services business; property development business, and Other. The main area of operations of the building services business encompasses the planning and construction management of detached and semi-detached houses on the basis of customer orders. In the property development business, constructions are realized and marketed on the Company's own land. The Other business segment comprises the broking business for building-related financing and insurance. As of December 31, 2011, the Company had three wholly-owned subsidiaries: Hausbau Finanz GmbH, HELMA LUX SA, and HELMA Ferienimmobilien GmbH. It also held a 93.95-stake in HELMA Wohnungsbau GmbH.