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Gemma Properties Holding AB (publ): Closing date for the restructuring and allocation of instruments to the bondholders

17 March 2020

Reference is made to the notices of outcome of the results from the written procedures dated 22 December 2019 and 17 January 2020 respectively (the “Written Procedures“) in relation to the up to SEK 140,000,000 or its equivalent in NOK Senior Secured Callable Fixed Rate with ISIN NO0010779507 and NO0010779515 issued by Gemma Utveckling 2016 AB (publ) (the “2016 Bonds“), the up to SEK 200,000,000 or its equivalent in NOK Senior Secured Callable Fixed Rate Bonds with ISIN NO0010799232 and SE0010297010 (the “2017 Bonds“) and the up to SEK 125,000,000 or its equivalent in EUR or NOK Senior Secured Callable Fixed Rate Bonds with ISIN SE0010598771, SE0010598789 and NO0010810963 issued by Gemma Properties Holding AB (publ) (the “GH Bonds“) (together the “Bonds“), where holders approved the proposed restructuring plan for the Gemma Group’s assets (the “Restructuring“).

The closing dates and the relevant record date (the “Record Date“) for closing of the Restructuring are:

  • Record Date: 17 March 2020 (the Bonds must be held on this date to participate in the Restructuring)
  • Main Closing Date: 19 March 2020
  • Closing completed: 24 March 2020

On the Main Closing Date several actions will be taken as described in the Written Procedures notices, including but not limited to the following actions and results:

  • A mandatory exchange of the Bonds to new bonds (referred to as the Reinstated Ordinary and Reinstated Premium in the Written Procedures);
  • Utilisation of the SSF (as defined in the Written Procedures).

Allocation of the Reinstated Ordinary and the Reinstated Premium will be made on or around the Main Closing Date. Please note that due to technical reasons the mandatory exchange to be carried out in relation to certain of the Bonds that are registered in Verdipapirsentralen in Norway cannot be completed 19 March 2020, but will instead be completed on or around 24 March 2020. Note that time-lapses might occur in the allocation and that these dates are tentative and might be amended without any additional notice.

Once the Closing has been completed, on or around 24 March 2020, the Gemma Group will inform the holders through a notice.

HOLDERS OF BONDS NOTE THAT: As from today 17 March 2020 until the closing is completed on or around 24 March 2020, no trade can be made in the Bonds (the Bonds will for technical reasons may be mandatory transferred to and held on an account of the issuing agents between today’s date and until the closing is completed). After the closing is completed, the holders holdings as exchanged into Reinstated Ordinary and Reinstated Premium will be transferred back to the holders of the Bonds.

The final versions of the terms and conditions of the Reinstated Ordinary and the Reinstated Premium (the “Finance Documents“) are available upon request by the holders of the Bonds (subject to statement of holdings) as from today. Please make a request to the agent to take part of the Finance Documents.

Contact details to request the Finance Documents:

[email protected]  

+46 70 141 10 82

For questions regarding the Restructuring, please contact:

Lisa Grahm Borg, Gemma Properties

[email protected]  

0761-66 46 47


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