Branicks - comment

Branicks creditors predictably voted in favour of the restructuring, with 99%. That was expected and doesn't remove the need to resolve the interim management spanner that shareholders threw in the works the other day, but it buys the required time. The company has now terminated the consulting agreements with Drs. Matthias Danne and Johannes Conradi, who failed to win shareholder backing. Both supervisory board members remain on with the company, and their agreements have been signed by a company that is financed by the creditors. As far as we are concerned, the process is on track.