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Information regarding an upcoming Written Procedure in SBT Properties AB (publ)

16 June 2021

The Issuer intends to announce a second written procedure, through Intertrust (Sweden) AB, (the “Second Written Procedure”) on 17 June 2021.

On 28 May 2021, a notice of written procedure was sent to the Bondholders, regarding the Proposal (as defined below). The voting period expired on 16 June 2021. The number of votes obtained proved to be insufficient in order to form a quorum. However, pursuant to the terms and conditions for the Bonds, the Issuer retains a right in these cases to call for a second Written Procedure where the quorum requirement does not apply.

The Issuer will in the Second Written Procedure propose that the Bonds are set-off against preference shares to be issued in the Issuer (the “Preference Shares“) and allotted to the Bondholders pro rata in relation to their holdings of Bonds as of the relevant record date for the purpose of restoring the Issuer’s share capital and avoiding an involuntarily liquidation of the Issuer (the “Proposal“). The Preference Shares will entitle the bondholders to an amount equal to 90 % of the net proceeds received from a divestment of either the shares in the Issuer’s wholly owned subsidiary, Danaplatsen Fastighets AB (“Danaplatsen“), or the divestment of the property Göteborg Sannegården 26:1 by Danaplatsen.

The Issuer believes that the Proposal will create the best outcome for the bondholders and hence ask for the bondholders’ patience and understanding.

More information and details of the Proposal will be set out in the Second Written Procedure.

Humbly thanking you for your patience in these circumstances.

 

For further information, please contact:

SBT Properties AB (publ), Robert Carlsson, CEO, [email protected]

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