Stockmann announces successful solicitation of consents regarding notes due 2018
STOCKMANN plc, Inside Information 29.11.2017 at 10:00 EET
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Stockmann plc (the “Issuer” or “Stockmann”) has successfully completed its consent solicitation (the “Consent Solicitation”) from all holders (the “Noteholders”) of its outstanding EUR 150 million 3.375 per cent notes due 2018 (ISIN: FI4000051057) (the "Notes") to approve certain modifications (the “Proposal”) to the terms and conditions of the Notes in order to permit an early redemption of the Notes (the “Early Redemption”).
Capitalised terms used herein shall have the meaning ascribed to them in the consent solicitation memorandum dated 16 November 2017 (the “Consent Solicitation Memorandum”).
In connection with the Consent Solicitation, a noteholders’ meeting (the “Noteholders’ Meeting”) was held at 9:00 a.m. (Finnish time) on 28 November 2017 in respect of the Notes. In the Noteholders’ Meeting, the Proposal was duly passed.
The Issuer anticipates that the Noteholders will be notified of the Redemption Price and the Early Redemption Settlement Date via a separate stock exchange release.
Furthermore, and also conditional on the Early Redemption occurring, the Early Consent Fee of 0.20 per cent of the principal amount of Notes for which valid Voting Instructions in favour of the Proposal were delivered before the Early Consent Fee Deadline at 4:00 p.m. (Finnish time) on 24 November 2017 will be paid to the Noteholders eligible to receive it no later than 10 days following the Early Redemption Settlement Date.
To receive copies of the Consent Solicitation Memorandum or for questions relating to the Consent Solicitation, please contact any of the Solicitation Agents.
Danske Bank A/S
Tel.: +358 10 513 8794 / Email: firstname.lastname@example.org
Nordea Danmark, filial af Nordea Bank AB (publ), Sverige
Tel.: +45 6161 2996 / Email: NordeaLiabilityManagement@nordea.com
OP Corporate Bank plc
Tel.: +358 10 252 1668 / Email: email@example.com
Nordea Bank AB (publ), Finnish Branch
Aleksis Kiven katu 3-5
OP Corporate Bank plc
This announcement is for information purposes only and is not to be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell with respect to any securities of Stockmann.
The distribution of this announcement may, in certain jurisdictions, be restricted by law. This announcement or any material or documentation related to the Consent Solicitation may be received only in compliance with applicable exemptions or restrictions. This announcement and any such material or documentation may not be distributed or published in any jurisdiction if to do so would constitute a violation of the relevant laws of such jurisdiction or would require actions under the laws of such jurisdiction. Persons into whose possession this announcement or any such material or documentation may come are required to inform themselves of and observe all such restrictions. None of Stockmann, the Solicitation Agents, the Tabulation Agent or the Paying Agent or their representatives accept any legal responsibility for any violation by any person, whether or not the persons contemplating investing in or divesting Stockmann's securities are aware of such restrictions.
This announcement must be read in conjunction with the Consent Solicitation Memorandum. If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, legal counsel, accountant or other appropriately authorised independent financial advisor.
Kai Laitinen, CFO, tel. +358 9 121 5800