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Notice of non-payment of senior secured bonds issued by Concent Utveckling Holding AB (publ)

29 March 2017

To holders of the up to SEK 140,000,000 senior secured bonds due 2017 with ISIN NO0010767593 and NO0010767601 (the “Bonds”) issued by Concent Utveckling Holding AB (publ) (the “Issuer”) on 29 June 2016.

Capitalized terms not otherwise defined in this notice shall have the meaning given to them in the terms and conditions relating to the Bonds (the “Terms and Conditions“).

Intertrust (Sweden) AB is the agent for the Bondholders under the Terms and Conditions.

In accordance to Clause 11.1 (b) the Issuer has exercised the right to extend the original Final Maturity Date with (3) moths, by giving notice to the Trustee and Bondholders on 29 November 2016. Therefore the Final Maturity Date for the Bonds falls on 29 March 2017.

As per 29 March 2017 the Issuer has failed to redeem the outstanding Bonds in full with an amount per Bond equal to the Nominal Amount together with accrued but unpaid Interest.

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

As press released by the Issuer today, the board of directors is actively working with the short and long term financing. In connection herewith, there are ongoing discussions with various investors and stakeholders. The Issuer will revert with more information in this regard as soon as these discussions have been finalized. The Issuer’s intention is to comply with its obligations under the Terms and Conditions as soon as possible.

Pursuant to Clause 14.10 (Acceleration of the bonds), the Agent shall within 20 Business Days of actual knowledge of the Event of Default decide whether the Bonds shall be accelerated. If we, during the stipulated time period, decide to not accelerate the Bonds, we will promptly seek instructions from the Bondholders.

Please note that Bondholders representing at least 10 per cent. of the Adjusted Nominal Amount may request that a Bondholders’ Meeting is convened for the purpose of deciding on a matter relating to the Finance Documents, including instructions to the Agent to accelerate the Bonds.

The Agent:

Intertrust (Sweden) AB
Anna Litewka
Email: [email protected]
Tel: +46 8 402 72 11

Kristofer Nivenius
Email: [email protected]
Tel: +46 (0)70 688 19 10

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