Madrid 26th October 2022 | Faced with various information that appeared in recent days in the media, in which the continuity of the Codere Group's activity is questioned, the current holding company of the group, Codere S.A., wishes to clarify that as it has been reporting in the various communications sent to the CNMV, The financial restructuring process that was announced on April 22 and that will be implemented before November 15, does not affect the normal performance of the group's operations in the different countries in which it operates, including the Spanish market.
As a result of the restructuring process, Grupo Codere will be controlled by a new holding company, through which the current bondholders of the group will have control of it, holding 95% of its capital, while the remaining 5% will correspond to to the current shareholders of the group.
After the implementation of this restructuring, the only company that will proceed to liquidate, since as we advanced in the privileged information communicated to the market, "it will not be able to continue as a going concern",”, Is the current holding, Codere S.A. To do this, a General Shareholders' Meeting will be called, which we hope will approve its dissolution and the opening of its liquidation period. Once this approval is obtained, Codere S.A. will ask the regulator to suspend the listing of its shares.
Regardless of the liquidation process of Codere, S.A., the operation of the group as a whole will follow its normal course in all markets and in all the other companies that make up its perimeter, including Codere Newco. Codere Newco is the Spanish company that, since 2016, brings together, directly or indirectly, all the employees, operations and assets of the Codere Group in all the countries where it is present. The group, therefore, will continue to function and operate normally in the new stage that is opening, under the umbrella of a new holding company and with a new Board of Directors.
With these remarks, we trust that we have clarified the implications of the ongoing process. For any additional clarification in this regard, we provide you with the public information sent to the CNMV. https://www.grupocodere.com/informacion-privilegiada/
As well as the contact of our Communication Department: comunicacion@codere.com
About Codere
Codere is an international benchmark gaming operator, with a presence in seven countries in Europe - Spain and Italy - and Latin America - Argentina, Mexico, Panama, Colombia and Uruguay-, which operates gaming machines, bingo stands and terminals. omnichannel sports betting, both through the online channel and through points of sale that include gambling halls, arcades, bars, betting halls and racetracks. www.grupocodere.com
Codere responsible gaming
Codere is firmly committed to the development of a gaming offer with all the guarantees for the user, and for this it carries out its activity by implementing the best responsible gaming practices, promoting transparency and promoting public policies that favor user guarantees, ensure that the protection of vulnerable groups and ensure the sustainability of the industry.
