Func Food Group Oyj – Notice regarding cancellation of ongoing written procedure and initiation of a new written procedure

Func Food Group Oyj (the "Company") has on the date hereof given instructions to Nordic Trustee & Agency AB (publ), being the agent under its up to EUR 50,000,000 senior secured callable bond loan with ISIN SE0007186150 2015/2019 (the "Bonds") to cancel the ongoing written procedure (initiated on 10 December 2018) and to initiate a new written procedure in order to request that the bondholders vote in favour of amending the terms and conditions of the Bonds. 

As previously communicated in the press release dated 10 December 2018, the owners of the Company are currently engaged in discussions pertaining to the future ownership structure of the Company and as a part of such a potential structural change the Company wishes to ask the bondholders to waive the coupon payment on the Bonds for December 2018, to enable the Company to use the liquidity for the business of the group. The coupon payment that should have been made for December 2018 will instead be made on the Final Maturity Date or the date on which the Bonds are redeemed in full (as applicable).  

The agent will deliver the notice to a written procedure to all bondholders on 20 December 2018. The written procedure will commence on 2 January 2019 and end on 22 January 2019. To be eligible to participate in the written procedure a person must fulfil the formal criteria for being a bondholder on 2 January 2019. This means that the person must be registered on a securities account with Euroclear Sweden AB as a direct registered owner (Sw. direktregistrerad ägare) or authorised nominee (Sw. förvaltare) with respect to one or several Bonds.

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

The notice to a written procedure is attached to this press release and is available on the Company's website (www.funcfood.com).

For further information, please contact:

Jani Partanen, CFO, Func Food Group Oyj
Telephone: +358 40 518 3076
Email: jani.partanen@funcfood.com

This information is information that Func Food Group Oyj is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 15.00 CET on 20 December 2018.