Frankfurt Higher Regional Court Rejects PREOS Bond Application, Insolvency Application Required

PREOS Global Office Real Estate & Technology AG announced that the Frankfurt Higher Regional Court has rejected the company's application to approve resolutions concerning its 7.5% convertible bond 2019/2024. The resolutions, voted on between December 1 and December 3, 2023, aimed to restructure the bond. This decision means the planned restructuring cannot proceed.

As a result, PREOS is obligated to file for insolvency by July 1, 2024. The company disclosed this development as inside information, in compliance with Article 17 of Regulation (EU) No. 596/2014. This significant setback implies an urgent need for PREOS to address its financial stability.