Share issue in relation to conversion and secured bonds
Stockmann plc's (the "Company") General Meeting of Shareholders resolved on 7 April 2021, in accordance with the terms of the Company's approved restructuring programme, to authorize the Board of Directors of the Company to decide on a directed share issue of at most 100,000,000 new shares of the Company to creditors of unsecured restructuring debts and hybrid bond creditors, as defined in the restructuring programme. The Board of Directors has on 18 May 2021, pursuant to the authorization granted by the General Meeting, resolved on a share issue of at most 100,000,000 new shares of the Company, carried out in deviation from the shareholders’ pre-emptive subscription rights.
The Company also offers secured bonds to certain unsecured creditors under the Company's restructuring programme. Pursuant to the restructuring programme, certain unsecured creditors are entitled to convert 80 per cent. of their receivables under the payment programme for unsecured debt under the restructuring programme, by way of set-off, to secured bonds.
Stockmann Oyj Abp - Prospectus
Stockmann plc - Offering Circular 18 May 2021
Interim Management Statement Q1/2021
Articles of Association of Stockmann plc
Stockmann plc's restructuring programme, approved by the Helsinki District Court (in Finnish)
