- The near 100% majority at the three assemblies demonstrates the noteholders’ support for the company’s management.
- The company obtains the required waivers from noteholders to launch a potential structured energy supply operation through a strategic partner (Market Access).
- The timely waiver of compliance with the debt ratio for 2022 is also approved.
29 NOVEMBER 2022. Yesterday, Audax Renovables (ADX.MC) held the General Assembly of the Syndicate of Noteholders of the Issue of “Audax Senior Unsecured Notes 2018” (ISIN ES0305039028), corresponding to the Second Issue and the Third Issue of Notes under the Programme called “EUR 400,000,000 Senior Unsecured Notes Programme Audax Renovables, S.A. 2020” (ISIN ES0236463008) and the meeting corresponding to the Issue of the Convertible Green Notes (ISIN XS2263652815) issued by AUDAX RENOVABLES, in which all the resolutions submitted to vote were approved by a large majority.
The items approved by a majority of close to 100% in the three meetings held on first call included a series of agreements framed both in a potential structured supply operation of gas, electricity and other products through a strategic partner (Market Access), as well as authorization for the timely waiver of compliance with the debt ratio for 2022.
With the majority consent to the points that had been voted on, the noteholders’ support of the company’s management is clear, since in the event of a potential market access operation, it will provide Audax with a competitive advantage in a complex market situation, reducing working capital needs and freeing up a relevant level of cash, thus continuing Audax’s strategy of reducing its level of borrowing.
To prepare for the aforementioned three meetings, Audax was advised by leading firms such as Garrigues and Alantra.
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About Audax Renovables
Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100%
renewable energy and supplies electricity and gas to customers in seven European countries. It currently
has a portfolio of wind farms and photovoltaic plants in Spain, Portugal, Italy, France, Poland and Panama
in operation, under construction and at various stages of development, totalling 2,536 MW. In its supplying activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 396,000 customers in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and leads the SME segment in Iberia. Audax was listed on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. During the first 9 months of 2022, its turnover reached 2,033 million euros and it has a team of more than 800 professionals.
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