Net Gaming Europe seeks approval from bondholders regarding certain amendments to the terms and conditions of its outstanding senior secured bond loan 2017/2020

Net Gaming Europe AB (publ) (“Net Gaming”) today announces that it is, through a written procedure, soliciting approval from holders of its bonds (the “Bondholders”) with ISIN SE0010297572 (the “Bonds”) to make certain amendments to the terms and conditions of the Bonds

Net Gaming has requested that Nordic Trustee & Agency AB (publ), acting in its capacity as agent (the “Agent”) for the Bondholders, initiates a written procedure in accordance with the terms and conditions of the Bonds. The purpose of the written procedure is for the Bondholders to grant consent to certain amendments to the terms and conditions of the Bonds (the “Proposal”). The overall objective of the amendments proposed herein is to postpone the Bonds’ final redemption date by two years, to 14 September 2022, in order to allow sufficient time to improve operational performance within the group and hence increase and improve refinancing options for Net Gaming in a more steady market. The proposed amendments can be found in the notice of written procedure (the “Notice”) which is available on the websites of Net Gaming (www.netgaming.se/investor-relations) and the Agent (www.nordictrustee.com) and (www.stamdata.com).

- It is pleasing that several of our larger bondholders are positive to the proposed amendments presented. We are confident that it is for the benefit of the company as well as the bondholders and we trust it will give us time to continue to develop the company and lower the debt ratio henceforth, comment from Robert Andersson, CEO of Net Gaming.

Bondholders representing approximately 43.1 per cent. of the total adjusted nominal amount have signed irrevocable voting undertakings to vote in favour of the Proposal.

To be eligible to vote in the written procedure, a Bondholder must on 27 April 2020 be registered in the debt register (Sw. skuldbok) for the Bonds as a direct registered owner (Sw. direktregistrerad ägare) or as an authorised nominee (Sw. förvaltare) with respect to one or several Bonds. The Agent must receive a duly completed voting form no later than 15.00 (CET) on 18 May 2020. The written procedure may be completed in advance if a sufficient quorum and majority of consents to the Requests have been received before 18 May 2020.

Provided that the Proposal is approved by a sufficient quorum and majority, each Bondholder will, subject to the terms and conditions specified in the Notice, obtain a consent fee, which will be an amount equal to 1 per cent. of the nominal amount of each Bond held by the relevant Bondholder.

Net Gaming expects to announce the result of the written procedure no later than 18 May 2020. Following such announcement, a notice of the outcome of the written procedure will also be published on the websites of Net Gaming and of the Agent.

For further details regarding the written procedure, please refer to the Notice.

Robert Andersson, President and CEO

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT. THE DISTRIBUTION OF THIS DOCUMENT IN CERTAIN JURISDICTIONS (IN PARTICULAR, THE UNITED STATES AND THE UNITED KINGDOM) MAY BE RESTRICTED BY LAW.

For further information please contact:

Robert Andersson, President and CEO
+356 9999 8017

Gustav Vadenbring, Group CFO
+356 9967 6001

Net Gaming Europe AB (publ)   
Telephone:       +46 8 410 380 44
E-mail:              info@netgaming.se
Website:           www.netgaming.se

Certified Adviser: FNCA Sweden AB, info@fnca.se, +46 8 528 00 399

This information is information that Net Gaming Europe AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 21 April 2020 at 08.00 CET.

About Net Gaming
Net Gaming owns, operates and develops high-quality comparison sites, mainly in iGaming affiliation, for the purpose of helping our partners by channelling high-quality users to the Company’s customers – primarily iGaming operators. Through the sites, Net Gaming generates high-quality users, primarily to global iGaming operators. The Company, which was founded in 2003, has just over 70 employees and is headquartered in Malta. The share (NETG) is listed on Nasdaq First North Growth Market Premier. Certified Adviser: FNCA Sweden AB, info@fnca.se, +46 8 528 00 399