Trigon Agri A/S: Update on debt to equity swap to its bondholders

As communicated in the 23 March 2016 announcement “EUR 1.5 million released to Trigon Agri A/S – Conditional upon a partial debt to equity swap to its bondholders”, Trigon Agri A/S (“Trigon”) has entered into an agreement with a committee of holders (the “Holders’ Committee”) under its SEK 350,000,000 11% bonds with ISIN SE0004019008 (the “Bond Loan”).

As is set out in the announcement of 29 June 2016, Trigon is obliged to repay EUR 1.5 million to a blocked account if all applicable conditions for the debt to equity swap are not fulfilled by 30 September 2016.

As further announced on 14 September 2016, a preliminary agreement with major shareholders and bondholders has been reached on the main terms and conditions of a proposed full conversion of the Bond Loan into new shares of Trigon (the “Preliminary agreement”). The approval of the proposed full conversion both by shareholders at the Extraordinary General Meeting of the Company and bondholders at the Bondholders’ Meeting, shall supersede and cease the previous agreements made between the Company and the Holders’ Committee in relation to the obligation of the Company to issue the convertible bonds (for more information please refer to the Press release of 23 March 2016 http://www.trigonagri.com/eur-1-5-million-released-to-trigon-agri-as-conditional-upon-a-partial-debt-to-equity-swap-to-its-bondholders/).

In consideration of the time required for both administrative and technical aspects of the proposed full conversion of the Bond Loan into new shares of Trigon, the Company and the Holders’ Committee have agreed to set the time limit for either of the arrangements above as follows:

• The partial redemption of the Bond Loan in kind or a full conversion of the Bond Loan into new shares of Trigon shall be carried out by no later than 31 December 2016.

Investor enquiries:  

Mr. Simon Boughton, CEO of Trigon Agri A/S, Tel: +372 6191 500, E-mail:  mail@trigonagri.com 

About Trigon Agri  

Trigon Agri is an integrated soft commodities production, storage and trading company with operations in Ukraine, Russia and Estonia. Trigon Agri’s shares are traded on the main market of Nasdaq Stockholm.

For subscription to Company Announcements please contact us: mail@trigonagri.com.

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The information set out in this press release is announced in accordance with the Swedish Securities Market Act. The information was submitted for publication on 30 September 2016 at 8:30 CET.