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  • Impala Bondco plc - Announces further delay of the publication of its audited consolidated financial statement and initiates a written procedure
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Impala Bondco plc - Announces further delay of the publication of its audited consolidated financial statement and initiates a written procedure

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Nottingham, 30 August 2024 - Impala Bondco Plc (the "Company") has instructed the agent for the Company's up to SEK 500,000,000 senior secured bonds with ISIN NO0011117145 (the "Bonds") to initiate a written procedure to request the holders of the Bonds to vote in favour of the Waiver Extension (as defined below).

Reference is made to the written procedure announced and initiated by the Issuer 13 May 2024 (the "May Written Procedure" and the notice of the May Written Procedure being the "May Notice") relating to the Issuer's request for the Bondholders to waive any Event of Default occurring as a result of a delay of the Issuer's publication of its audited consolidated financial statements for the financial year ending on 31 December 2023 (the "Financial Statements"). The waiver granted in the May Written Procedure commenced on 30 April 2024 and will end on 31 August 2024 subject to the terms set out in the May Notice (the "May Waiver").

The Issuer has however recently been informed by its auditors that the audit of the financial statements (the "Audit Review") will not be ready before the end of the Report Deadline. The auditors have further informed the Issuer that the delay is due to a combination of factors, including unforeseen staffing challenges, logistical complications, and the transfer of responsibilities to a new lead audit partner, which requires additional time to ensure accuracy and continuity. The Issuer has explored all available options with the auditors to have the Audit Review completed prior to the deadline but have concluded that the Issuer will not be able to ensure that the Financial Statements are published in time due to its auditor's internal issues (the "Delay"). As a consequence of the Delay, the Issuer hereby request that the Bondholders extend the May Waiver for the period commencing on 31 August 2024 and ending on 30 September 2024 (the "Waiver Extension") by voting in favour of and accepting the request set out in the notice to written procedure.

Further information and background to the Delay and the Waiver Extension is set out in the notice to the written procedure.

The notice to the written procedure will be delivered to all holders of Bonds through the CSD. The written procedure will end on 23 September 2024. To be eligible to participate in the written procedure, a person must fulfil the formal criteria for being a holder of Bonds on 2 September 2024.

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

For further information, please contact:

Adrian Muniz, CFO

Telephone: +17032982469

Email: amuniz@ativion.com

Information:

This information is information that Impala Bondco plc 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 [10:00] CEST on 30 August 2024.

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