Func Food Group Oyj – Notice to a 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 initiate a written procedure in order to request that the bondholders vote in favour of amending the terms and conditions of the Bonds. 

The Company is currently undergoing a portfolio rationalisation which has resulted in significant costs and thus placing a strain on revenue and liquidity in 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 payments on the Bonds for December 2018 and March 2019, to enable the Company to use the liquidity for the business of the group. The coupon payments that should have been made for December 2018 and March 2019 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 10 December 2018. The written procedure will commence on 14 December 2018 and end on 10 January 2019. To be eligible to participate in the written procedure a person must fulfil the formal criteria for being a bondholder on 14 December 2018. 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 17.00 CET on 10 December 2018.