07/12-2017 15:00:00: (ENRO.ST) Eniro announces that the recapitalization plan is now fully completed
This press release may not be announced, published or distributed, in whole or in part, directly or indirectly, in the United States, Canada, Japan, Australia, Hong Kong, New Zealand, Singapore, South Africa or any other country where such publication or distribution would violate applicable laws or rules or would require additional documents to be prepared or registered or require any other actions to be taken, in addition to the requirements under Swedish law. This press release is not a prospectus. For further information, please refer to "Important information" in this press release.
Eniro's share issues etc. are now registered with the Swedish Companies Registration Office (Sw. Bolagsverket). Conversion of BTA UE, BTA 1 and BTA B as well as the issuance of shares in the commitment fee issue to guarantors of the cash issue will be completed. The new loan terms with the bank consortium have today entered into force. The recapitalization plan is fully completed.
Time table for registration, conversion and issuance of shares:
7 Decembe Registration with the Swedish Companies Registration Office (Sw.
r 2017: Bolagsverket) regarding the exchange offers, the cash issue, the
banks' set-off issues and the commitment fee issue
8 Decembe First day of trading on Nasdaq Stockholm in the ordinary class A
r 2017: shares from the commitment fee issue
13 Record date for conversion of BTA UE and BTA 1 to ordinary class A
14 Record date for conversion of BTA B (class B shares to the banks in
December the set-off issue)
15 First day of trading on Nasdaq Stockholm in class A ordinary shares
December from the exchange offers and the cash issue
At the same time as the registration of the share issue, the company's bank debt has been reduced through amortization of debt, debt write-offs and the banks' conversion of loans into common shares in accordance with the recapitalization plan. The new loan terms have therefore entered into force. In connection with the new loan terms, the company will fulfill its obligation to bear the cost of the banks' expenses relating to the recapitalization process. The expenses presented by the banks are approximately SEK 16 million higher than what has previously been communicated. After Eniro has questioned whether the higher expenses are reasonable, the banks have accounted for the necessity of the higher expenses and assured that they are reasonable. In addition to the previous credit commitments, the banks have committed to provide financing for the cost of the increased expenses in its entirety. Considering all circumstances, especially the significant debt write-offs and the banks' assurance that the expenses are reasonable, the company has decided to accept the higher cost level.
Because of the registrations with Bolagsverket and the new loan terms entering into force, the company's recapitalization plan is fully completed.
For more information, please contact:
Björn Björnsson, Chairman of the board of directors, tel +46 70-399 80 16
Örjan Frid, President and managing director, tel +46 70-561 16 15
Eniro is a leading search company for individuals and businesses in the Nordic region. Eniro Group has approximately 1,700 employees. The company is listed on Nasdaq Stockholm [ENRO], with approximately 14,000 shareholders at present and is headquartered in Kista, Stockholm. More on Eniro at enirogroup.com, twitter.com/eniro and facebook.com/eniro.
Detta pressmeddelande finns tillgängligt på svenska på www.enirogroup.com/sv/pressmeddelanden.
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No subscription rights, paid subscribed shares or new shares have been or will be registered under the Securities Act, or with any other securities regulatory authority of any state or other jurisdiction of the United States and no subscription rights, paid subscribed shares or new shares may be offered, sold, resold, transferred, delivered or distributed, directly or indirectly, into or within the United States or on the account of such persons other than pursuant to an exemption from, or in a transaction not subject to the registration requirements of the Securities Act, and in compliance with any applicable securities laws of any state or jurisdiction of the United States. No public offering of subscription rights, paid subscribed shares or new shares is made in the United States. There is no intention to register any securities referred to herein in the United States or to make a public offering in the United States.
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