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To the bondholders in senior secured bonds with ISIN NO 001 080980.9 (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 of any inconsistency between the Norwegian translation and the English text, the English text shall prevail.
Intertrust (Norway) AS is (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”). Capitalized terms not defined herein shall have the same meaning as in the Terms and Conditions.
IMPORTANT INFORMATION FROM THE ISSUER
The Trustee has been asked to communicate the following information from the Issuer, in order to give the Bondholders a status update with regards to the ongoing situation:
Further to previous correspondence regarding he composition process in Blåfjell AS.
– The board is still working with potential investors regarding an investment and short term capital increase – currently, the most probable alternative claims security or warranties that may be in conflict with the terms and conditions for the bonds. There will be a meeting today (16.03.2020) regarding the matter again.
– The marked has reacted negatively to the current corona situation and the company has decided to issue temporary lay offs in order to reduce costs as much as possible. The remaining staff will be on a strict minimum level to maintain production.
– Representatives of the board will enter into immediate discussion with their bank in order to clarify whether Blåfjell may be a potential candidate for funds from the Governmental crisis package due to the corona virus situation.
The full notice can be downloaded as per below:
For further information, please contact:
Eleonore Foss
Intertrust (Norway) AS
E-mail: [email protected]
Phone: +47 958 14 513
Andreas W. Hennyng
Intertrust (Norway) AS
E-mail: [email protected]
Phone: +47 971 87 151
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