Fiven ASA - Initiates a written procedure

Fiven ASA (the "Company") has instructed the agent for the Company's up to EUR 125,000,000 senior secured sustainability-linked bonds with ISIN SE0016075196 (the "Bonds") to initiate a written procedure to request that bondholders vote in favour of amending the terms and conditions of the Bonds (the "Terms and Conditions") to enable a one-off distribution of cash in the Company (as further specified in the notice of written procedure).
 

The Company has delivered strong financial performance since the issuance of the Bonds, and due to a combination of earnings growth and cash generation, net leverage has declined to 1.3x per Q2 2022, with a cash balance of approx. mEUR 25, which is expected to increase further over the remainder of 2022.

Provided the Request is accepted, Bondholders will be paid a consent fee of 2.85 per cent. (as further specified in the notice of written procedure). Moreover, the Leverage Ratio (as defined in the Terms and Conditions) will be lowered from the current level of 4.50x to 3.00x for the remainder of the tenor of the Bonds.

Bondholders representing approximately 48 per cent. of the Adjusted Nominal Amount (as defined in the Terms and Conditions) have expressed their intention to vote in favour of the request.

The agent will deliver the notice to a written procedure to all bondholders on 9 November 2022. The written procedure will commence on 15 November 2022 and end on 5 December 2022. To be eligible to participate in the written procedure a person must fulfil the formal criteria for being a bondholder on 15 November 2022.

Pareto Securities AB has been retained as financial advisor in connection with the written procedure.

The notice to the written procedure is available on the Company's website (www.fiven.com) and on Stamdata (www.stamdata.com).

For further information:

For further questions to Fiven ASA, please contact: Stein Erik Ommundsen, CFO, at stein.e.ommundsen@fiven.com or + 47 97 510 481.

For further questions to Pareto Securities AB, financial advisor to the Company, please contact: Oliver Humlen, Equity Partner, at oliver.humlen@paretosec.com or +46 70 916 26 97.

Information:

This information is information that Fiven ASA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:30 CET on 9 November 2022.

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