Dear investors,
As you are aware, Wagamama started a Homologation Private Agreement Act (WHOA) procedure on September 13, 2022. The WHOA is intended for viable companies that are burdened by excessive debt. By concluding a private agreement, the debt burden is reduced to a level that the organization must be able to bear.
In recent months, Wagamama's WHOA team has had intensive contact with Stichting Obligatiehoudersbelangen and all other financiers and creditors, including the tax authorities and the UWV. The bondholders had a subordinated position in this regard, but due to the joint and several connections with all group companies, the position in the WHOA procedure has proven to be relatively strong.
Through a court ruling, the positions of all parties have now been determined in such a way that the WHOA team released a draft WHOA proposal for bondholders on February 23. This proposal includes a write-down of the bond by 28,2%, a reduction in the interest rate to 6,18% and an extension of the term.
Please note that this proposal still has a draft status and may still change due to the comment round that runs until March 9. However, the Wagamama WHOA team expects that no major adjustment will be expected.
As soon as the final proposal is known, we will organize a voting round in which you can vote on the proposal.
Bondholder Interest Foundation
February 27 2023
