Eniro announces that the recapitalization plan is now fully completed

This press release may not be announced, published or distributed, in whole or in part, directly or indirectly, in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or any other country where such publication or distribution would violate applicable laws or rules or would require additional documents to be prepared or registered or require any other actions to be taken, in addition to the requirements under Swedish law. This press release is not a prospectus. For further information, please refer to “Important information” in this press release.

Eniro’s share issues etc. are now registered with the Swedish Companies Registration Office (Sw. Bolagsverket). Conversion of BTA UE, BTA 1 and BTA B as well as the issuance of shares in the commitment fee issue to guarantors of the cash issue will be completed. The new loan terms with the bank consortium have today entered into force. The recapitalization plan is fully completed.

Time table for registration, conversion and issuance of shares:

7 December 2017: Registration with the Swedish Companies Registration Office (Sw. Bolagsverket) regarding the exchange offers, the cash issue, the banks’ set-off issues and the commitment fee issue
8 December 2017: First day of trading on Nasdaq Stockholm in the ordinary class A shares from the commitment fee issue
13 December 2017: Record date for conversion of BTA UE and BTA 1 to ordinary class A shares
14 December 2017: Record date for conversion of BTA B (class B shares to the banks in the set-off issue)
15 December 2017: First day of trading on Nasdaq Stockholm in class A ordinary shares from the exchange offers and the cash issue

At the same time as the registration of the share issue, the company’s bank debt has been reduced through amortization of debt, debt write-offs and the banks’ conversion of loans into common shares in accordance with the recapitalization plan. The new loan terms have therefore entered into force. In connection with the new loan terms, the company will fulfill its obligation to bear the cost of the banks’ expenses relating to the recapitalization process. The expenses presented by the banks are approximately SEK 16 million higher than what has previously been communicated. After Eniro has questioned whether the higher expenses are reasonable, the banks have accounted for the necessity of the higher expenses and assured that they are reasonable. In addition to the previous credit commitments, the banks have committed to provide financing for the cost of the increased expenses in its entirety. Considering all circumstances, especially the significant debt write-offs and the banks’ assurance that the expenses are reasonable, the company has decided to accept the higher cost level.

Because of the registrations with Bolagsverket and the new loan terms entering into force, the company’s recapitalization plan is fully completed.

For more information, please contact:  

Björn Björnsson, Chairman of the board of directors, tel +46 70-399 80 16

Örjan Frid, President and managing director, tel +46 70-561 16 15

Eniro is a leading search company for individuals and businesses in the Nordic region. Eniro Group has approximately 1,700 employees. The company is listed on Nasdaq Stockholm [ENRO], with approximately 14,000 shareholders at present and is headquartered in Kista, Stockholm. More on Eniro at enirogroup.com, twitter.com/eniro and facebook.com/eniro.

Detta pressmeddelande finns tillgängligt på svenska på www.enirogroup.com/sv/pressmeddelanden.

Important information

This press release does not contain or constitute an invitation or an offer to acquire, sell, subscribe for or otherwise trade in shares, subscription rights or other securities in Eniro. The invitation to subscribe for shares in Eniro will only be made through the prospectus that Eniro has published on its website, following the approval and registration thereof by the Swedish Financial Supervisory Authority and only to the persons to whom the prospectus is addressed. The prospectus contains, among other things, risk factors, financial statements as well as information regarding Eniro’s board of directors. This press release has not been approved by any regulatory authority and is not a prospectus. Accordingly, investors should not subscribe for or purchase any securities referred to in this press release except on the basis of information provided in the prospectus.

In certain jurisdictions, the publication or distribution of this press release may be subject to restrictions according to law and persons in those jurisdictions where this press release has been published or distributed should inform themselves about and abide by such restrictions.

This press release is not directed to persons located in the United States (including its territories and possessions, any state of the United States and the District of Columbia), Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or in any other country where the offer or sale of the subscription rights, paid subscribed shares or new shares is not permitted.

This press release may not be announced, published or distributed, directly or indirectly, in or into the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or any other country where such action is wholly or partially subject to legal restrictions or where such action would require additional prospectuses, other offer documentation, registrations or other actions in addition to what follows from Swedish law.

The information in this press release may not be forwarded, reproduced or disclosed in such a manner that would contravene such restrictions or would require such additional prospectuses, other offer documentation, registrations or other actions. Failure to comply with this instruction may result in a violation of the United States Securities Act of 1933, as amended (the “Securities Act”) or laws applicable in other jurisdictions.

No subscription rights, paid subscribed shares or new shares have been or will be registered under the Securities Act, or with any other securities regulatory authority of any state or other jurisdiction of the United States and no subscription rights, paid subscribed shares or new shares may be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within the United States or on the account of such persons other than pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act, and in compliance with any applicable securities laws of any state or jurisdiction of the United States. No public offering of subscription rights, paid subscribed shares or new shares is made in the United States. There is no intention to register any securities referred to herein in the United States or to make a public offering in the United States.

This press release contains forward-looking statements which reflect Eniro’s current view on future events and financial and operational development. Words such as “intend”, “will”, “expect”, “anticipate”, “may”, “plan”, “estimate” and other expressions than historical facts that imply indications or predictions of future development or trends, constitute forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

The information, opinions and forward-looking statements in this press release speak only as of its date and are subject to change without notice.

About Us

Eniro is a search company that aggregates, filters and organizes local information. Our growth is driven by users’ increasing mobility and multiscreen behavior, where we are at the forefront with modern technical solutions. For more than 100 years Eniro has helped people find local information and companies find customers. Today it is a multiscreen solution – our users search for information using their smart phones, tablets and desktops. Mobile advertising is today the fastest growing part of Eniro’s business. Eniro is the local search engine. A smart shortcut to what you need, no matter where you are or where you are going. Eniro is one of the largest search companies in the Nordic region and Poland. The company has approximately 2,000 employees and has been listed on NASDAQ Stockholm since 2000. During 2014, Eniro revenues amounted to SEK 3,002m and EBITDA was SEK 631m. Approximately 88 percent of Eniro advertising revenues come from multiscreen channels. The company’s headquarters are located in Stockholm, Sweden. More on Eniro at www.enirogroup.com. Eniro – Discover local. Search local.

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