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Important information on voting in relation to amendments to the terms and conditions of Notes with ISIN LV0000802411
Emitents Storent Investments, AS (894500QUY4PL0DT0MP25)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Versija
Datums 2020-04-20 10:08:20
Versijas komentārs
Teksts

On 2 April 2020 AS “Storent Investments” (hereinafter - the Issuer), in accordance with Clause 20 of the Terms and Conditions of Notes dated 5 March 2020 governing the Notes issued by the Issuer on 19 March 2020 (ISIN: LV0000802411) (hereinafter - the Terms and Conditions) instigated a Written Procedure to obtain the Noteholders' consent on amendments to the Terms and Conditions. In accordance with the proposed amendments the Issuer proposed that it is obliged to comply with the Net Debt/EBITDA financial covenant as of 31 December 2021 (please see the relevant announcement here: https://cns.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=932518&messageId=1174753).

   The Issuer would like to thank the Noteholders who have participated in the Written Procedure and submitted their votes so far, and kindly asks all the remaining Noteholders to be responsive and to submit their votes to the Issuer by 27 April 2020 (inclusive).

   The Issuer kindly reminds that in accordance with Clause 20.1 (e) of the Terms and Conditions a quorum in respect of a Written Procedure for approval of the proposed amendments exists if one or more Noteholders holding 50 (fifty) per cent in aggregate or more of the principal amount of the outstanding Notes (excluding the Notes held by the Issuer and the Related Parties) reply to the request by submitting their votes in respect of the proposed amendments. However, in order for the proposed amendments to become effective, the Issuer in accordance with Clause 20.1 (g) of the Terms and Conditions is obliged to receive a consent from the Noteholders holding at least 75 (seventy-five) per cent of the aggregate principal amount of the outstanding Notes (excluding the Notes held by the Issuer and the Related Parties) participating in the Written Procedure (i.e. replying to the request by submitting their votes in respect of the proposed amendments).

   The Issuer would like to note that for the purpose of calculation of the majority requirement provided in Clause 20.1 (g) of the Terms and Conditions the Notes held by the Noteholders who have not participated in the Written Procedure (i.e. who have not replied to the request by submitting their votes in respect of the proposed amendments and for this reason it should be deemed that those Noteholders have voted against the proposed amendments) will not be taken into account. Consequently, the proposed amendments will become effective, if: (i) one or more Noteholders holding 50 (fifty) per cent in aggregate or more of the principal amount of the outstanding Notes (excluding the Notes held by the Issuer and the Related Parties) will reply to the request by submitting their votes, and (ii) at least 75 (seventy-five) per cent of those will vote “for” the proposed amendments.

   Therefore, the Issuer stresses the importance of the Noteholders’ participation in the voting and kindly asks all the remaining Noteholders (including the Noteholders who do not support the proposed amendments) to submit their votes to the Issuer by 27 April 2020 (inclusive).

   In case of any questions related to the voting, the Issuer asks the Noteholders to contact Redgate Capital (e-mail: bonds[at]redgatecapital.eu) who is authorized to manage the voting process.

 

Baiba Onkele

AS Storent Investments CFO

Mobile: + 371 29340012

E-mail: baiba.onkele@storent.com

www.storent.com

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