The parent company of Eniro issues a notice to a second bondholders’ meeting for its convertible loan 2015/2020 within the framework of the restructuring
The Second Bondholder’s Meeting will be held on 10 July 2020, at 11.00 in Nordic Trustee & Agency AB’s offices at Norrlandsgatan 23, 111 43 Stockholm. The convertible holders are encouraged to attend the meeting by issuing a power of attorney along with voting instructions to the Agent and not attending physically.
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. The composition proposal together with the Administrator’s report were included in the documentation distributed together with the notice (Notice of Bondholders’ Meeting on 8 June 2020 – Request for approval of a composition proposal) distributed by the Company via the agent Nordic Trustee & Agency AB (publ), (the “Agent”) to holders of Convertible Bonds 2015/2020 (SE0006789830) amounting to in total approximately SEK 30 million. Not enough number of votes were cast in the meeting for the Convertible Debt Holders for a valid resolution.
The Company has decided not to withdraw its proposals and has instructed the bondholders’ Agent, to distribute a notice for a second bondholders meeting (Notice of a Second Bondholders’ Meeting on 10 July 2020 – Request for approval of a composition proposal) (the “Notice”) for the purpose of re-requesting the convertible holders consent to the composition proposal and other measures in accordance with the terms of the Notice. The requirements for decision making are not applicable at a second convertible holding meeting. The company's proposal for a decision and the agenda for this meeting are the same as at the first convertible holding meeting. The composition proposal mainly involves a composition offer of 25 percent, ie. a write-down of 75% of non-priority and unsecured debts, and the exchange of receivables against preference shares of series A.
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, email@example.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.