MLS: What does she answer about her bond loans in an ATHEX letter

MLS gives answers to a letter of the Athens Stock Exchange regarding the bond loans MLS01, MLSO2 and MLSO3.

Specifically, it informs the investing public the following:

1. In relation to the stage of negotiations with the bondholders of the above loans, the Company is in contact with the representatives of the bondholders as well as with individual bondholders in order to secure in the first stage their initial agreement in the effort to provide temporary protection. This action will give the required time to present to them the final restructuring plan of the Company’s borrowing. In this context, it is in contact with the representatives in order to convene General Meetings of the bondholders, especially in those publications where it seems that the required majority can be reached.

2. In relation to any legal actions or court decisions taken by the bondholders of the above loans against the company or against its shareholders, the company informs that it has received a lawsuit from 4 individual bondholders of the MLS02 bond issue 2017 who have a total of 257,249 bonds. The company’s legal department considers that the lawsuit will not succeed for multiple reasons. In any case, only the representative of the bondholders is entitled to take legal action against the company, something that has not happened.

3. In relation to the publication times of the semi-annual and annual financial report for the year 2020, as well as the semi-annual financial report for the period 30.06.2021, the company informs that the procedures have started in cooperation with the statutory auditors for the year 2020 in order to to prepare the annual financial report for the year 2020. Once the above report is published, the procedures for the semi-annual financial report for the period 30-06-2021 will begin. In relation to the delay in publication, this is mainly due to the fact that the statutory auditors of 2020 are different from those of the fiscal year 2019. Therefore they had to wait for the audit to be completed and the fiscal year 2019 to be published, then study the fiscal year 2019 and start the audit procedures for 2020 which are currently underway.

4. Finally, the company informs the investing public that it has signed the 9-07-2021 contract for the provision of consulting services with Whitetip Investments SA, in order to create a restructuring plan of the Company’s liabilities. The initial plan has been approved by the Board of Directors of the Company and has been discussed with some of the creditors. In addition, on 19-10-2021 he commissioned Whitetip Investments SA to create the post restructuring business plan in collaboration with the Company.