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Notice of outcome in the second written procedure for bonds issued by Filago Prosjekt Holding 1 AS

2 July 2020

To the bondholders in senior secured bonds with ISIN NO 001 0865504 (NOK Bonds) and ISIN NO 001 0865470 (SEK Bonds) (the “Bonds”) issued by Filago Prosjekt Holding 1 AS (the “Issuer”) on 29 September 2017. 

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

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

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 29 September 2017 (the “Terms and Conditions”). 

In the Second Written Procedure for which notice was given on 16 June 2020 and last date to vote was 30 June 2020 at 18.00 (CET), the Trustee hereby announce the successful completion of the Second Written Procedure requested by a Bondholder representing more than 10 per cent of the Adjusted Nominal Amount in order for the Bondholders to approve or reject a proposal (the “Request”) as fully described in Schedule 1. 

Eligible replies corresponding to 40,09 per cent of the Adjusted Nominal Amount have been received in the Written Procedure. Pursuant to cl. 20.11 and c. 20.10 of the Terms and Conditions, the quorum requirement involving participation of 50 per cent of the Adjusted Nominal Amount shall not apply to a written procedure. It was therefore established that the votes received in the Second Written Procedure will be decisive. 

The Request was approved by 62.59 per cent of the eligible votes received in the Written Procedure. The consent requirements in cl. 20.9 of Bondholders representing more than 50 per cent of the Adjusted Nominal Amount for which Bondholder reply in the Written Procedure was therefore met. 

 The Trustee, the estate of bankruptcy and Bright View AS will enter into discussion on the legal technicalities related to a potential execution of the proposal. 

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