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Profit-participation rights 2007

In order to boost the financing structure still further, in December 2007, ABAP Beteiligungs Holding GmbH (after a change of issuer in 2019 today PORR AG) issued profit-participation rights for an unspecified length.

These were taken over by PORR AG in 2019. The total nominal value currently amounts to EUR 40.0m. The interest rate until 31 December 2025 is 6.0% p.a. of the nominal value of the profit-participation rights. From 1 January 2026, the interest rate is 13.0% p.a. of the nominal value of the profit-participation rights.

PORR AG is only obliged to pay interest if it decides to pay a dividend to shareholders from the annual profit. PORR AG is not obliged to pay the due interest for a year without a dividend payout, and if it utilises the right not to pay, the outstanding amount is kept as arrears of interest which must be paid as soon as PORR AG decides to pay a dividend from the annual profit to its shareholders. In the case of termination by the issuer or the extraordinary notice of termination by the bearers of profit-participation rights, the capital from profit-participation rights plus the valid interest accrued until termination date and the outstanding interest becomes due.

As payments on the profit-participation rights – interest as well as capital redemption – are only compulsory when the conditions are activated, where their activation can be authorised or prevented by PORR AG, and the Group therefore has the option of avoiding payment on this part of the profit participation rights permanently, these profit-participation rights are categorised as equity instruments.