Preliminary outcome of bondholders’ meeting and issuance of new bonds
On December 20, 2012 Kährs Holding AB (publ) issued a senior, unsecured corporate bond of SEK 500 million, within a framework amount of SEK 750 million, in the Swedish market with a tenor of five years and a final maturity in December 2017.
On March 7, 2014 it was announced that the agent of the bondholders has summoned to a bondholders’ meeting by way of procedure in writing, with the purpose of approving a repayment of shareholder loans and a dividend to the shareholders of totally SEK 350 million in connection with an issue of new bonds of SEK 225 million within the current framework amount. The record date for bondholders entitled to vote at the meeting took place on March 19, 2014. At the time of this press release, written replies from bondholders representing circa 70 percent of the outstanding bonds have been obtained approving the proposed resolution in the notice and no bondholder has voted against the proposed resolution. Confirmation of the obtained votes is carried out continuously and some votes are still subject to confirmation. The final outcome will be announced on or about March 26, 2014, when the time for replies expires.
In the light of the above, the company has resolved to issue new bonds of SEK 225 million within the current framework amount and applied for listing of the new bonds on NASDAQ OMX Stockholm. The first day of trading is expected to be on or about March 27, 2014
If the preliminary outcome of the procedure in writing accounted for above would stand, a consent fee will be paid to the bondholders that were registered in the debt register on March 19, 2014, as described in the notice. The payment is expected to be made on March 26, 2014.
Nybro, March 20, 2014
Kährs Holding AB (publ)
For further information please contact:
Peter Ericsson, CFO, +46 (0)481-461 14
About Kährs Holding AB (publ)
Kährs Holding AB (publ) is a world’s leading wood and resilient floor manufacturer with a number of strong brands in the product portfolio such as Kährs, Karelia and Upofloor. The company’s innovations have shaped the industry throughout the history and Kährs is dedicated to continue supplying the market with new innovative flooring solutions. The group delivers products to more than 50 countries and is a market leader in Sweden, Finland, Norway and Russia, and holds strong positions also in other important markets, e.g. the UK and Germany. The group employs some 1 500 people and has an annual turnover of approximately MEUR 300.
Kährs Holding AB (publ) is publishing this information pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was released for public disclosure on March 20, 2014, at 16.30 CET.