16.02.21 )
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), announces that an explanatory statement has today been published to Bondholders and Senior Lenders in connection with gategroup Guarantee Limited s (the Plan Company ) financial restructuring plan designed to position the Company for a post-COVID future.
As announced on 26 November 2020, the Group, its shareholders, RRJ Capital and Temasek (the Shareholders ) and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 (the Senior Lenders and the SFA , respectively) have agreed to the key terms and conditions of a recapitalisation of the Company and amendment of the terms of the Group’s financial indebtedness (the “Transaction”).
15.01.21 )
gategroup Holding AG (“gategroup”, the “Company” and together with its subsidiaries, the “Group”), announces that the High Court of England and Wales (the Court ) today gave directions that the hearing in relation to the proposal by gategroup Guarantee Limited (the Plan Company ) to convene a meeting of its creditors for the purposes of voting on an English restructuring plan under Part 26A of the United Kingdom s Companies Act 2006 (the Convening Hearing ) is to be adjourned until 3-4 February 2021.
If the Court grants the order at the Convening Hearing scheduled to be held on 3-4 February 2021, a meeting of the Bondholders and Senior Lenders is expected to be held on 8 March 2021 and the meeting materials (including the explanatory statement) are expected to be made available to Senior Lenders and Bondholders on 8 February 2021.