Notice of non-payment of interest for senior secured notes issued by Mobylife Holding A/S

To holders of the up to SEK 450,000,000 senior secured notes due 2020 with ISIN SE0005936382 (the “Notes”) issued by Mobylife Holding A/S (the “Issuer”) on 23 May 2014.

Capitalized terms not otherwise defined in this notice shall have the meaning given to them in the terms and conditions relating to the Notes, as amended and restated in August 2015 and in December 2016 (the “Terms and Conditions“).

Intertrust (Sweden) AB is the Agent for the Noteholders under the Terms and Conditions.

In accordance with Clause 8.2 of the Terms and Conditions, the Issuer shall pay Interest on the Notes on each Interest Payment Date for the preceding Interest Period.

The Issuer has per Interest Payment Date on 23 February 2018 failed to pay the Interest.  

The non-payment of Interest constitutes an Event of Default pursuant to Clause 14.1 (a) of the Terms and Conditions.

In accordance to Clause 8.4 in the Terms and Conditions, default interest shall accrue on the overdue amount from (but excluding) the due date up to (and including) the date of actual payment at a rate which is two per cent. higher than the Interest Rate. Accrued default interest shall not be capitalised.

Pursuant to Clause 14.3 (Acceleration), the Agent shall within 20 Business Days of actual knowledge of the Event of Default decide whether the Notes shall be accelerated. If we, during the stipulated time period, decide to not accelerate the Notes, we will promptly seek instructions from the Noteholders in accordance to Clause 16 (Decisions by Noteholders) by convening a Noteholder’s Meeting or instigating a Written Procedure.

Please note that Noteholders representing at least 25% per cent. of the Adjusted Nominal Amount may demand in writing (such demand may only be validly made by a person who is a Noteholder on the Business Day immediately following the day on which the demand is received by the Agent and shall, if made by several Noteholders, me made by them jointly) that the Agent declares all, but not some only, of the outstanding Notes due and payable together with any other amounts payable under the Finance Documents, immediately or at such later date as the Agent determines, and that the Agent exercise any or all of its rights, remedies, powers and discretions under the Finance Documents.

Please also note that Noteholders representing at least 10 per cent. of the Adjusted Nominal Amount may request (such request may only be validity made by a person who is a Noteholder on the Business Day immediately following the day on which the request is received by the Agent and shall, if made by several Noteholders, be made by them jointly) that a Noteholders’ Meeting or a Written Procedure is convened for the purpose of deciding on a matter relating to the Finance Documents, including instructions to the Agent to accelerate the Notes. 

In connection to the above, please be informed that certain Noteholders representing approximately 47% of the outstanding Nominal Amount of the Notes have formed an ad-hoc Noteholder Committee. Please contact the Agent if you are interested in contacting the Noteholder Committee.

This notice has been made public through a press release by the Agent and the press release can be found here. This notice will also be sent out to the Noteholders in accordance with the Terms and Conditions. 

The agent:

Intertrust (Sweden) AB

Anna Litewka

Email: [email protected]

Tel: +46 8 402 72 11