Dear Sirs:
We hereby inform you from COMERSAN, SA (hereinafter, “COMERSAN” or the “Company”) of the restructuring process that has been taking place since last July. On July 29, 2024, COMERSAN filed a notice with the competent Commercial Court (Commercial Court No. 2 of Alicante) to initiate negotiations with its creditors to reach a restructuring plan (hereinafter, the “Plan”) to overcome the insolvency situation in which it found itself and guarantee its viability in the short and medium term. The initial period of said notice of negotiations was initially extended by an Order dated November 28, 2024, and subsequently by another Order dated January 29, 2025.
In the aforementioned restructuring process – which is being processed under the number of Autos 639/2024 in the aforementioned Commercial Court No. 2 of Alicante – the company LEOPOLDO PONS CONCURSAL, SLP was appointed by Order dated November 28, 2024 as an expert in the restructuring that has assisted COMERSAN and its creditors in the negotiations and preparation of the Restructuring Plan.
Through this communication and in compliance with the provisions of article 627 of the Consolidated Text of the Bankruptcy Law (hereinafter "TRLC"), we inform you that COMERSAN has prepared a Restructuring Plan that aims to guarantee its viability in the short and medium term, including a series of operational and financial measures that modify the terms and/or conditions of the credits held by the creditors affected by COMERSAN's Restructuring Plan.
Therefore, we inform you that it is initially planned to proceed with the notarial formalization of the COMERSAN Restructuring Plan next Friday, May 9, 2025, at 12 noon, by means of its signature and elevation to Public Deed before the Notary of Valencia, Mr. José Manuel Rodrigo Paradells (with office open at Roger de Lauria Street, No. 19, 2nd D, in the city of Valencia), and creditors may show their adherence to said Plan as an affected creditor by means of a notarial appearance (at said notary's office or by means of an appearance at any other notary's office in Spanish territory) from said date, May 9, and until May 16, 2025, inclusive.
Likewise, creditors affected by the aforementioned Restructuring Plan may also exercise their voting rights and, consequently, express their support and agreement by communicating this to the Restructuring Expert (to the attention of Mr. Manuel Rico Llopis) by email to the following address (mrico@leopoldopons.com) or by any other means that allows the creditor's expression of will to be known. We appreciate that this support email be sent with a copy to both Comersan (arturo@comersan.com) and our attorney Enrique Blasco Alventosa (eblasco@blascoestudiojuridico.com). The deadline to exercise said voting and support rights is as indicated above, that is, from May 9 to May 16, 2025, until midnight, inclusive. All of this is for the purpose of enabling the Restructuring Expert to issue the certification of the sufficiency of majorities required for the approval of Comersan's Restructuring Plan. If the vote is communicated electronically, the document must include the electronic signature of the creditor or their representative.
Likewise, you are informed that you can request a proposal for Comersan's Restructuring Plan, upon proof of legal standing, by sending an email to Comersan (arturo@comersan.com) and copying it to our lawyer Enrique Blasco Alventosa (eblasco@blascoestudiojuridico.com).
I remain at your disposal for any questions related to this matter. Sincerely,
Comersan, SA
