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Notice of outcome in the second written procedure for bonds issued by Blåfjell AS

16 November 2020

To the bondholders in senior secured bonds with ISIN NO 001 080980.9 (NOK Bonds) (the “Bonds”) issued by Blåfjell AS (the “Issuer”) on 9 November 2017.

A Norwegian translation of this notice is included in the full notice which can be downloaded as per below. In case on any inconsistency between the Norwegian translation and the English text, the English text shall prevail.

Notice of outcome

Intertrust (Norway) AS (the “Trustee”) is acting as Trustee on behalf of the Bondholders under the terms and conditions relating to the Bonds dated 9 November 2017 (the “Terms and Conditions”).

Capitalised terms not defined herein shall have the same meaning as in the Terms and Conditions.

In the Second Written Procedure for which notice was given on 6 November 2020 and last date to vote was 13 November 2020 at 16:00, the Trustee hereby announce the successful completion of the Second Written Procedure. The Second Written Procedure was initiated by the Trustee in order for the Bondholders to consider whether they would instruct Intertrust to appeal a resolution to enter into an agreement concerning transfer in accordance with Norwegian Bankruptcy Act § 117a (the “Request”) as dully described in Schedule 1. 

Eligible replies corresponding to 26,38 per cent of the Adjusted Nominal Amount have been received in the Second Written Procedure. Pursuant to cl. 19.11 of the Terms and Conditions, no quorum requirement shall apply to a second written procedure. The received votes will therefore be decisive. 

The Request was approved by 100 per cent of the eligible votes received in the Second Written Procedure. The consent requirements in cl. 19.9 of Bondholders representing more than fifty (50) per cent of the Adjusted Nominal Amount for which Bondholders reply in the Second Written Procedure was therefore met. 

In accordance with this resolution, Intertrust will proceed with the filing of a motion for reversal of the decision to enter into the agreement concerning transfer of business in accordance with the Norwegian Bankruptcy Act § 117a cf. § 99. 

 

For further information, please contact:

 

For the Trustee:

Eleonore Foss

Intertrust (Norway) AS

[email protected]

+47 958 14 513

 

Andreas W. Hennyng

Intertrust (Norway) AS

[email protected]

+47 971 87 151

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