The parent company of Eniro issues a notice to a bondholders’ meeting for its convertible loan 2015/2020 within the framework of the restructuring
Eniro AB (publ) is issuing a notice of a bondholders’ meeting for its convertible bonds 2015/2020 (SE0006789830) amounting to in total approximately SEK 30 million.
On 30 March 2020, the district court of Solna granted a petition for Eniro AB (publ), reg. no. 556588-0936 (the ”Company” or ”Eniro”) to enter into company reorganisation (Sw. Företagsrekonstruktion), the petition was filed with the district court earlier the same day. As previously announced, Advokat Lars Eric Gustafsson of Advokatfirman Schjødt, was appointed administrator of the reorganisation.
Today, Eniro has presented a composition proposal which the Company’s creditors shall resolve upon. Since the day of petition, the Company’s board of directors and the administrator of the reorganisation have worked with identifying the necessary restructuring measures in order to make Eniro’s capital structure and the group’s operations viable in the long term.
The Company has three categories of creditors that are covered by the composition proposal:
- Bondholders (the “Bondholders”) of 2018/2021 SE0011452440 ENIRO01 (the “Bond Debt”), secured by share pledges in subsidiaries.
- Convertible holders (the “Convertible Holders”) of 2015/2020 SE0006789830 Eniro KV 1 (the “Convertible Debt”), unsecured.
- Other creditors (the “Other Creditors”), unsecured.
Firstly, the partially secured Bond Debt and the unsecured Convertible Debt shall carry out separate voting procedures in accordance with the applicable terms and conditions, to resolve upon whether or not the composition proposal is accepted. The Company has therefore instructed Nordic Trustee & Agency AB (publ), which is acting as agent under the Convertible Debt, to issue a notice regarding a bondholders’ meeting to the Convertible Holders which are directly registered in the Company’s debt ledger (Sw. skuldbok) held with Euroclear Sweden, in order to request the Convertible Holders’ approval of the composition proposal.
The notice of the bondholders’ meeting with more detailed information on the composition proposal and the administrators’ report are available on the Company’s website (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 company 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 4.7 million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.