Codere, Group restructuring does not affect business performance

“Following the various information that appeared in the media in recent days, in which the continuity of the activity of the Codere Group, the current holding company of the group, is questioned, Codere SA would like to specify that, as reported in the various communications sent to the CNMV , the financial restructuring process which was announced on 22 April and which will be implemented by 15 November, does not affect the normal performance of the group’s activities in the various countries in which it operates, including the Spanish market “. Codere specifies this in a note. “Following the restructuring process, the Codere Group – continues the note – will be controlled by a new holding, through which the current bondholders of the group will control it, holding 95% of its capital, while the remaining 5% will remain in the possession of the current shareholders of the group. After the implementation of this restructuring, the only company to be liquidated, as anticipated in the inside information disclosed to the market, “since it cannot continue to be an operating company”, is the current holding company, Codere SA To this end, a General Shareholders’ Meeting will be convened which we expect to approve its dissolution and the opening of its liquidation period. “” Once this approval has been obtained, Codere SA will ask the regulator to suspend the listing of its shares. Regardless of the liquidation process of Codere, SA, the operations of the group as a whole will follow its current course. or normal in all markets and in all other companies that are part of its perimeter, including Codere Newco. Codere Newco is the Spanish company which, since 2016, brings together, directly or indirectly, all the employees, activities and assets of the Codere Group in all the countries where it is present. The group, therefore, will continue to function and operate normally in the new phase that is opening, under the aegis of a new holding company and with a new Board of Directors. With these clarifications, we are confident that we have clarified the implications of the ongoing process. For any further clarification in this regard, we make available the public information sent to the CNMV “, concludes the group.