Storskogen receives consent from bondholders in written procedures
Storskogen Group AB (publ) (“Storskogen”) announces that the written procedures (the “Written Procedures”) which were initiated on 26 June 2024 under the terms and conditions for Storskogen’s outstanding bonds 2021/2025 (ISIN: SE0017084650), bonds 2023/2027 (ISIN: SE0020358026) and bonds 2024/2027 (ISIN: SE0022240974) (the “Terms and Conditions” and the “Bonds” respectively) have been successfully concluded.
The Written Procedures were initiated in connection with the decision to divest nine business units, as announced in the press release on 25 June 2024. This divestment was undertaken to improve Storskogen’s overall profitability and allocate more resources to business units with greater growth potential.
The Written Procedures were initiated in order to request the bondholders’ approval of waivers of certain loans out restrictions and dividend restrictions under the Terms and Conditions, as further described in the notices of the Written Procedures. The notices of the Written Procedures are available at Storskogen’s website (https://www.storskogen.com/investors/financing/).
A sufficient number of votes were obtained in order to form a quorum and a requisite majority of the voting bondholders voted in favour of the waivers from the Terms and Conditions. The bondholders' consents to the waivers are effective immediately. Accordingly, the agent, Nordic Trustee & Agency AB (publ), has today concluded the Written Procedures.
In accordance with the notices of the Written Procedures and the additional information which was sent to the bondholders and published on Storskogen’s website on 3 July 2024, a consent fee corresponding to 0.375 per cent. of the nominal amount of each Bond will be paid to the holders of the Bonds. The consent fee will be paid to the holders of the Bonds through Euroclear Sweden on 12 August 2024. The payment will be made on a pro rata basis to those who are registered as holders of Bonds as of the record date on 5 August 2024. The payment will be made to all holders of Bonds regardless if such holder participated in the Written Procedure or voted for or against the requested waivers.
For more information, please contact:
Andreas Lindblom, Head of Investor Relations
+46 72 506 14 22
[email protected]
For media inquiries, please contact:
Michael Metzler, Head of Communication
+46 73 305 59 55
[email protected]
About Storskogen
Storskogen is an international group of businesses across trade, industry and services. As a long-term owner, we are positioned to identify, acquire, and develop market leaders with sustainable business models. Storskogen creates value by providing access to capital and strategic direction combined with active governance and a decentralised operational model. Storskogen has approximately 12,000 employees, net sales of SEK 35 billion (LTM) across a diversified group of businesses and is listed on Nasdaq Stockholm.
