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Notice of Written Procedure for senior secured bonds issued by Solnes Invest AS 

16 September 2019

Intertrust (Norway) AS (the “Trustee”) acting in its capacity as trustee for the bondholders under the terms and conditions of the bonds, has at the request of the Issuer on 13 September 2019 inititated a written procedure by which bondholders can approve or reject a proposal from the Issuer.  

The Issuer asks the bondholder to approve that (1) Lasse Fosby (the “Buyer”), or one of his affiliates, acquires all the shares in the Issuer and the Property Company for a total amount of NOK 3 and NOK 1 respectively, (2) the Bonds are redeemed at a price of 33% of their Nominal Amount, and (3) the Bondholders waive any claims for accrued and unpaid Interest. For further details of the Request and the background and rationale relating thereto, please see the full notice which can be downloaded as per below.

 Notice of written procedure for Solnes Invest AS

Pursuant to Clause 19.10 of the Terms and Conditions, a quorum in respect of the Written Procedure will only exist if a Bondholder (or Bondholders) representing at least Fifty (50) per cent. of the Adjusted Nominal Amount reply to the Request. Pursuant to Clause 19.8 of the Terms and Conditions, at least sixty six and two thirds (66 2/3) per cent. of the Adjusted Nominal Amount for which Bondholders reply in a Written Procedure must consent to the Proposal in order for it to be approved.

 

The Trustee must have received the votes no later than by 12.00 (CET) on 27 September 2019.

 For further information, please contact:

Intertrust (Norway) AS

Contact: Peter Drachmann

Phone: +47 400 22 444

E-mail: [email protected]

 

 

 

 

 

 

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