SCI informs its clients that several issuers associated with the VIVAT Multitalent Group, whose bonds were previously included in SCI’s investment advisory offering, are currently experiencing delays in interest payments.
The relevant issuers have informed SCI that the delays are mainly related to the situation in the real estate market — the sale of properties in certain projects is progressing more slowly than originally planned, which affects the expected cash flow and payment schedules.
According to the information provided by the relevant issuers, more detailed information regarding the specific bond issues, payment delays and further actions has been sent individually to investors by e-mail and published in the client portal.
SCI continues to receive and assess additional information regarding each issuer and its ability to meet its obligations towards investors.
At the same time, we would like to inform you that Multitalent AG, one of the companies within the VIVAT Multitalent Group, is currently subject to insolvency proceedings. Multitalent AG is a separate legal entity, its bonds were not included in SCI’s investment advisory offering, and SCI did not recommend them to its clients.
The insolvency proceedings of Multitalent AG do not in themselves mean that other issuers within the VIVAT Multitalent Group are in the same situation. SCI assesses the situation of each issuer separately.
SCI continues to assess both the financial instruments that were previously offered to clients and for which interest payments are currently delayed, as well as the financial instruments currently included in SCI’s investment advisory offering, taking into account the latest information available regarding each individual issuer.
If SCI receives new material information that may affect SCI clients or the financial instruments offered to them, clients will be informed accordingly.
Clients may obtain more detailed information regarding a specific financial instrument and the situation of the relevant issuer from their assigned SCI tied agent.
This notice has been prepared for client information purposes and does not in itself amend the rights and obligations of issuers and investors set out in the documentation governing the relevant bond issues.
