European Lingerie Group AB launches written procedure under the bond terms and conditions

European Lingerie Group AB ("ELG" and together with its subsidiaries from time to time, the “Group”) announces that it is formally initiating a written procedure under the terms and conditions (the "Terms and Conditions") for ELG's up to EUR 60,000,000 senior secured floating rate bonds due 2021 with ISIN SE0010831792 (the "Bonds"), whereby the holders of the Bonds (the "Bondholders") can approve or reject a proposal (the "Proposal") from ELG to waive the financial covenant breach (as described below) and to make certain amendments to the Terms and Conditions as further described in the