Notice for bondholders’ meeting (written procedure) due to the sale of Candyking to Cloetta

Stockholm on 24 February 2017

Reference is made to the press release on 17 February 2017 in relation to the divestment of, inter alia, all shares in Candyking Holding AB (publ) (the “Company” or “Candyking”) and the Company’s bond-loan in a nominal amount of MSEK 750 (the “Bonds”) to a wholly owned subsidiary of Cloetta AB (publ) (“Cloetta”).

At the request of the Company in agreement with certain bondholders, the agent has today summoned a bondholders’ meeting by way of a procedure in writing to resolve upon approval of the transaction, the exchange of instruments and other resolutions necessary in connection therewith. The notice, including proposals for resolutions, has today been published at the Company’s website (candyking.com).

As further detailed in the notice, the initial purchase price amounts to MSEK 325 on a cash and debt free basis. The purchase price for the shares and Bonds after adjustments for cash and debt is estimated to approximately MSEK 307 in the purchase agreement and will be finally determined in connection with closing (note that this is an estimate surrounded by uncertainty and that the final purchase price may deviate from the estimate negatively or positively). The bondholders are entitled to 97 percent, i.e., in aggregate approximately MSEK 297 of the estimated purchase price. Based upon Cloetta’s and Candyking’s combined sales volume of pick and mix in confectionary and natural snacks in the Nordics, the United Kingdom, Poland and the Baltics during 2018, an additional purchase price of maximum MSEK 225 may become payable, out of which the bondholders are entitled to 97 percent, i.e., in aggregate maximum approximately MSEK 218 (note that the additional purchase price may be SEK 0).

For a full description of the proposed resolutions, see further in the notice.

The transaction in subject to approval from the Swedish Competition Authority and approval of the bondholders at a bondholders’ meeting.

In case of questions, please contact:

Dani Evanoff +46 73-503 97 97

About this information

Candyking Holding AB (publ) publishes this information in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10 CET on 24 February 2017. 

About Candyking

Candyking was founded in 1984 and is a leading concept supplier of pick and mix candy in the Nordic countries, the United Kingdom, Ireland and Poland. Today, Candyking has more than 8,000 points of sale and offer stores an integrated concept which includes products, displays and accompanying store and logistic services. Candyking’s trademarks in confectionary are Candyking, Karamellkungen and Candyking Favourites. The company is also a leading pick and mix supplier within natural snacks in Sweden and Finland under the Parrot brand. More information is available at www.candyking.com.