3 September 2019
As communicated by the Trustee and by Hancap AB (publ) the interest payment that should have been paid 28 August has not been paid and the Issuer estimates that it will be able to make the payments around 11 September. The payments will be done with stipulated default interest.
The Non-payment constitutes an Event of Default and the Issuer has not been able to remedy it within 5 Business Days of the due date. The Trustee shall, within twenty (20) Business Days of the date on which the Trustee received actual knowledge of that an Event of Default has occurred and is continuing, decide if the Bonds shall be accelerated. If the Trustee decides not to accelerate the Bonds, the Trustee shall promptly seek instructions from the Bondholders in accordance with Clause 16 (Decisions by Bondholders).
The Trustee is in close dialogue with the Issuer and based upon the information received the Trustee finds it likely that the Interest will be paid together with accrued default interest on or about 11 September and if payment is not done by that date it will seek instructions from the Bondholders according to Clause 16 (Decisions by 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 Trustee to accelerate the Bonds.
Please find the full notice here.
For questions please see below:
Intertrust (Sweden) AB as Trustee Hancap AB (publ)
Kristofer Nivenius Mark Baljeu
Phone: +46 70 688 1910 Phone: +46 70 626 8655
Email: trustee@intertrustgroup.com Email: mark.baljeu@hancap.se