paragon GmbH & Co. KGaA [ISIN DE0005558696] announced today that the first vote without a meeting on the issuer's proposal to adjust the terms of its EUR bond [ISIN: DE000A2GSB86 / WKN: A2GSB8] failed to reach the required quorum, with only 3.00% participation. As a result, the company will 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.
The proposed adjustments to the bond terms are crucial for paragon's financial stability. The company, a market-leading direct supplier to the automotive industry, develops and produces solutions in automotive electronics, body kinematics, and electromobility. Its portfolio includes innovative air quality management, modern display systems, high-end acoustic systems, active mobile aerodynamic systems, and power battery management systems through its Power division. With operations in Germany, China, the USA, India, and Croatia, paragon is navigating challenges in the automotive sector.
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 company is working closely with the SdK - the German Shareholders' Association - and will hold an informational event prior to the meeting, with a separate invitation to follow.
The outcome of the second bondholders' meeting is critical for paragon to secure necessary adjustments to its bond terms, which could affect its ability to manage debt and continue operations. Bondholders and stakeholders are urged to participate, as the meeting will take place in person, ensuring direct dialogue. The company's shares are listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt am Main.
For more information about paragon, visit www.paragon.ag. Capital market contact: Klaus Dieter Frers, Bosendamm 11, D-33129 Delbrück, phone: +49 (0) 52 50 - 97 62-100, fax: +49 (0) 52 50 - 97 62-102, email: investor@paragon.ag. Press contact: Brigitte Frers, same address, phone: +49 (0) 52 50 - 97 62-142, fax: +49 (0) 52 50 - 97 62-102, email: info@paragon.ag.
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