Information to the bondholders in SBT Properties AB (publ)

Information from the Issuer relating to the Danaplatsen Divestment as contemplated by the Written Procedure concluded 14 December 2020.

In the written procedure for which notice was given on 25 November 2020 and which was concluded 14 December 2020 (the “Written Procedure”), Intertrust (Sweden) AB (the “Agent”) has announced the successful completion and resolution to approve the proposal set out therein. Capitalized terms not otherwise defined in this notice shall have the meaning given to them in the notice of Written Procedure.

The contemplated buyer of the Danaplatsen Project and the Issuer have been working intensively to complete the due diligence and settle the transaction (the “Danaplatsen Divestment“) as presented in the Written Procedure. The aim was to sign the sale and purchase agreement in respect of the Danaplatsen Divestment on 14 December 2020, since the payment date for the purchase of Sannegården 26:1 from the Gothenburg municipality was 15 December 2020. However, the due diligence has not yet been completed and no binding agreement has been entered into between the parties. The Issuer has managed to postpone the payment date to the municipality to 15 February 2021 and hence the parties continue to progress the due diligence and the negotiations with a view to complete the Danaplatsen Divestment by that date and the Issuer is confident to settle the Danaplatsen Divestment before 15 February 2021.

The request that was approved in the Written Procedure stipulated that a binding agreement in respect of the Danaplatsen Divestment shall be entered into before 31 December 2020. However, since the parties have been granted more time in regards to the payment to the municipality, the Issuer has requested that the deadline for entering into a binding agreement with the buyer shall be extended to 15 February 2021 (the “Extension”) for the purpose of completing the Danaplatsen Divestment for the benefit of the bondholders.

The Issuer believes that the Extension will create the best outcome for the Bondholders and hence ask for the bondholders’ patience and understanding. The Agent has preliminary indicated to the Issuer that they will not initiate any actions as a result of the Extension. For the avoidance of doubt, no funds were to be paid to the Bondholders on the closing date of the Written Procedure and no transaction security will be released until a binding agreement for the Danaplatsen Divestment has been entered into.

However, if the Bondholders disagree with the approach described above, any request from Bondholders representing at least ten (10) per cent of the Adjusted Nominal Amount will be dealt by way of a Written Procedure. Please contact the Agent, Intertrust (Sweden) AB on [email protected] if you would like to initiate a request.

Humbly thanking you for your patience in these circumstances.

For further information, please contact:

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