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DGAP-News: One Square Advisory Services GmbH
/ Key word(s): Bond
Munich, 21 July 2020Â - On Thursday, 25 June 2020, the Management Board of Wirecard AG filed an application for opening of insolvency proceedings on behalf of Wirecard AG with the competent Munich Local Court. With the filing of the insolvency application, Wirecard's business activities will be continued.
 The Munich based attorney Dr. Michael Jaffé has been appointed as provisional insolvency administrator. Furthermore, applications for insolvency have also been filed for six German subsidiaries of Wirecard AG, including two guarantors of the EUR 500,000,000 0.50% 19/24 (WKN: A2YNQ5 / ISIN: DE000A2YNQ58), issued by Wirecard AG (the "Bonds"); applications for further subsidiaries cannot be ruled out at present. As a result of these reports, the price of the Bonds has lost more than 80% of its value. Given the recent developments, greater coordination and alignment of interests is urgently required for the group of the bondholders. Their representation in potential restructuring discussions or in a potential insolvency is imperative for the preservation of value for the bondholders and the best possible protection of their interests. One Square Advisors and DLA Piper invite all bondholders to a telephone conference on Thursday, 23.07.2020 at 17.00 CEST / 4.00 pm BST, during which the latest developments will be discussed. Furthermore, there will be a preliminary assessment of the possible options for the engagement of the bondholders in possible restructuring discussions as well as the positioning of One Square Advisors as common representative. The telephone conference will be held exclusively in English and will be based on public information only. All current holders of the Bond are invited to this conference call. The public call is not aimed at the press, other stakeholders or buy-side investors. One Square Advisors has an excellent track record in representing bondholders in restructuring and insolvency proceedings. E.g. One Square Advisors represents the interests of bondholders in the insolvency proceedings of AirBerlin, Rickmers and SolarWorld as joint representative. One Square and DLA Piper recommend to the bondholders of Wirecard AG, to bundle their interests and to be represented jointly through the election of a joint representative for the best possible protection of their rights. Bondholders are kindly requested to register for the telephone conference via . Contact One Square Advisory Services GmbH Theatinerstrasse 36 D-80333 Munich fax:    -22 email:
21.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
1098759Â Â 21.07.2020Â
