Lauritz.com Group A/S – Restructuring of corporate bond, Written Procedure
Copenhagen, 10 June 2019
Lauritz.com, Bengt Sundström and certain bondholders of Lauritz.com A/S' corporate bonds with ISIN: SE0005999521 (representing approx. 37% of the outstanding bonds - "Agreement Holders") has now agreed on a proposal ("Amended Proposal") which incorporates the transactions referred to in company announcement no. 8/2019, and amends the proposal ("Original Proposal") adopted by bondholders on 25 February 2019. The Amended Proposal has today been notified to the bondholders, and will be decided on through a written procedure that will end on 28 June 2019. The Agreement Holders have committed to vote in favor of the Amended Proposal and as such the Amended Proposal will very likely be approved.
The Amended Proposal includes the following new material deviations in comparison with the Original Proposal:
- The Chateau Group Companies (i.e. the companies that are encompassed by the pledge Bengt Sundström is to provide) will in the aggregate be permitted to obtain loans up to a maximum amount of EUR 500,000 (instead of EUR 100,000). There will be no restrictions on the type of lender from which loans can be obtained.
- For as long as the bond terms are complied with, Ejendomsselskabet Blixtz A/S (a Chateau Group Company) may repay existing debts to Blixtz Holding A/S with an amount of up to DKK 2,000,000 per calendar year.
- The Chateau Securities (i.e. the securities being provided by Bengt Sundström) shall be subject to an aggregate cap of EUR 10 million (plus costs, expenses and fees incurred in connection with realisation or enforcement of Chateau Securities).
- If a Chateau Group Company has obtained a loan from a direct or indirect shareholder, such permitted loan will not be covered by the prohibition against repayment of shareholder loans.
- The Lauritz.com group shall not be subject to restrictions on the type of lenders from which they may obtain loans.
The Amended Proposal is expected to take effect on 1 July 2019 or soon thereafter.
Lauritz.com Group A/S
For press enquiries, please contact:
Susanne Sandsberg Klubien
Certified Adviser: Erik Penser Bank AB
Telephone number: +46 8-463 83 00
Market place: Nasdaq First North Premier Stockholm
This information is information that Lauritz.com Group A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 18.00 CEST on 10 June 2019.