Notice of outcome in the Written Procedure for the bonds issued by Filago Prosjekt Holding 1 AS

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 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. 

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”).

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

In the Written Procedure for which notice was given on 26 May 2020 and last date to vote was 10 June 2020, The Trustee hereby announce the successful completion of the 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 30,80 per cent of the Adjusted Nominal Amount have been received in the Written Procedure. It was thus established that the requisite quorum of at least 50 per cent of the Adjusted Nominal Amount was not achieved. The Request was therefore neither accepted nor rejected.

The Request was approved by 68.51 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. 

If the Bondholder representing more than 10 per cent of the Adjusted Nominal Amount does not withdraw the Request, the Trustee will initiate a Second Written Procedure within 10 business days in accordance with cl. 20.11 of the Terms and Conditions. 

For further information, please contact:

For the Trustee:

Eleonore Foss

Intertrust (Norway) AS

Eleonore.foss@interustgroup.com

+47 958 14 513

Andreas W. Hennyng

Intertrust (Norway) AS

Andreas.w.hennyng@intertrustgroup.com

+47 971 87 151