Eniro initiates a new Written Procedure of its outstanding senior bond loan 2018/2021

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 or an offer to subscribe, acquire or transfer shares, bonds or other securities. For further information, please refer to "Important information" in this press release.

Eniro AB (publ) (the "Company") summons a new procedure in writing (Written Procedure) for its outstanding bonds 2018/2021 (ISIN: SE0011452440) with an aggregate amount of approximately SEK 989 million (the "Bonds").

 

As announced by the Company by way of a press release on 29 January 2020, the Company has proposed a plan for recapitalization involving an exchange of convertibles and the Bonds for redeemable preference shares of a new series A.

 

On 7 February 2020, the Company initiated a Written Procedure of its Bonds in order to receive bondholders' approval of an exchange of the Bonds for new preference shares of series A and the authorization of the agent to take measures on behalf of the bondholders in connection with the exchange. In a press release on 2 March 2020, the Company announced that a requisite majority of the voting bondholders voted in favour of the proposal. The bondholder’s consent was thus conditional upon the holders of the convertible debt representing at least 90 per cent. of the outstanding convertible debt agreed to exchange convertibles for new preference shares of series A. In a press release on 17 March 2020, the Company announced that the offer to the convertible holders was not accepted by the required number of convertible holders. The board of directors has therefore resolved to present a cash offer to the convertible holders and to initiate a new Written Procedure in respect of the Bonds.

 

The Company has today instructed Nordic Trustee & Agency AB (publ), being the agent under the Bonds, to send a notice to a Written Procedure to all bondholders directly registered in the Company's debt ledger held with Euroclear Sweden in order to once again receive bondholders' approval of an exchange of the Bonds for new preference shares of series A and the authorization of the agent to take measures on behalf of the bondholders in connection with the exchange.

 

The notice to the Written Procedure and detailed information regarding the voting procedure and the requests to the bondholders, are available at the Company's webpage (www.enirogroup.com).

 


For more information, please contact:

Arne Myhrman, Chairman of the board of directors, tel +46 73 383 64 67
Magdalena Bonde, Group President and CEO, tel +46 8 553 310 00, magdalena.bonde@eniro.com
Anne Langbraaten, Group CFO, tel +46 8 553 310 00, anne.langbraaten@eniro.com

Eniro is a Nordic company that helps small and medium-sized companies with digital marketing. Eniro also has a search service that aggregates, filters and presents information to help individuals find and come into contact with each other and with companies. The Eniro Group has about 1,000 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk. Each week, Eniro Group's digital services have about 4,8 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.

This translation is for convenience only.

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, bonds or other securities in Eniro. Invitation to subscribe for preference shares in Eniro will only be made through the prospectus that Eniro may publish 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 prospectuses which may be published.

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, new shares, bonds or other securities 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, bonds or other securities 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, bonds or other securities 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, bonds or other securities 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.

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