Any chapter 11 filing would be limited solely to CEDC and CEDC Finance Corporation International, Inc. None of CEDC's Polish, Russian, Ukrainian or Hungarian operations would become the subject of any insolvency proceedings. In this scenario, CEDC anticipates that all its operations would continue without interruption in the ordinary course, including the payment of all employee, vendor, and other obligations.
Annual General Meeting of Shareholders
In light of CEDC's current financial condition as well as the on-going nature of CEDC's restructuring, the board of directors of CEDC has determined to delay the annual meeting of CEDC's shareholders currently scheduled for March 26, 2013, until Tuesday, May 14, 2013.
CEDC Annual ReportFinally, CEDC announced today that its Annual Report on Form 10-K for the year ended December 31, 2012 could not be filed with the United States Securities and Exchange Commission within the prescribed time period as the process of preparing CEDC's financial statements for the year ended December 31, 2012 has been delayed due to the focus of CEDC's resources on restructuring its financial obligations, including preparation and commencement of the Exchange Offers, negotiating with creditors and addressing open accounting issues related to CEDCs financial restructuring. CEDC expects to file its Annual Report on Form 10-K as soon as practicable. None of CEDC, CEDC Finance Corporation International, Inc., or the information and exchange agent makes any recommendation as to whether holders should tender their notes pursuant to the Exchange Offers. Each holder must make its own decision as to whether to tender its notes and, if so, the principal amount of the notes to be tendered. This press release is for informational purposes only and is neither an offer to buy nor a solicitation of an offer to sell the notes or any other securities of CEDC.