paragon GmbH & Co. KGaA [ISIN DE0005558696] announced that the first vote without a meeting on its proposal to adjust bond terms failed to reach the required quorum, with only 3.00% of the total outstanding bonds participating. The company will now convene a second bondholders' meeting in person on December 19, 2025, at 10 a.m. at its headquarters in Delbrück, specifically at the Hotel Waldkrug, Graf-Sporck-Strasse 34, 33129 Delbrück. A participation fee will be provided.
Together with the SdK - the German Shareholders' Association - an additional informational event will be held beforehand, with a separate invitation to follow. Klaus Dieter Frers, founder and CEO of the personally liable partner of paragon GmbH & Co. KGaA, commented: “It was no surprise that the first bondholders’ meeting did not reach the required participation quorum. We expect that our efforts in discussions with the investors' protection associations and the major bondholders will ultimately lead to broad approval at the second creditors' meeting.”
The bond in question is the EUR bond [ISIN: DE000A2GSB86 / WKN: A2GSB8]. The company had presented the proposal from November 27 to 29, 2025, for a vote without a meeting, but as anticipated, the quorum was clearly missed. This development underscores the challenges paragon faces in restructuring its debt amid ongoing operations.
paragon GmbH & Co. KGaA, listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt, develops and produces solutions in automotive electronics, body kinematics, and electromobility. Its portfolio includes air quality management, display systems, acoustic systems, active mobile aerodynamic systems, and battery management systems through its Power division. The company has locations in Germany, China, the USA, India, and Croatia.
For more information, visit www.paragon.ag. The original release can be accessed via www.newmediawire.com.
