Stockmann announces a successful solicitation of consents with respect to its capital securities
STOCKMANN plc, Other information disclosed according to the rules of the Exchange 26.11.2019 at 16:00 EET
Stockmann plc (the “Issuer” or “Stockmann”) has successfully completed its consent solicitation from the holders (the "Holders") of its capital securities (ISIN: FI4000188776) (the "Capital Securities") to approve certain amendments (the "Request") to the terms and conditions of the Capital Securities (the "Terms and Conditions") in order to provide sufficient time for Stockmann to complete investigating strategic alternatives for the ownership of Lindex and to enable in connection with or following such potential completion a more comprehensive refinancing of the indebtedness of the Group if such refinancing is then desirable (the “Consent Solicitation”).
Capitalised terms used herein shall have the meaning ascribed to them in the consent solicitation memorandum dated 31 October 2019 (the "Consent Solicitation Memorandum").
In connection with the Consent Solicitation, Stockmann requested that the Holders would approve the Request in a written procedure (the "Written Procedure"). The Written Procedure commenced on 31 October 2019 and expired on 25 November 2019. The Request was approved by required majority of the Holders participating in the Written Procedure. Thus, the requested amendments to the Terms and Conditions will become effective from and including 27 November 2019. The amendments to the Terms and Conditions as approved in the Written Procedure are attached to this stock exchange release.
The Issuer will pay a fee of 0.50 per cent of each Holder’s holdings of the Nominal Amount of the Capital Securities (the "Fee") to those Holders from whom a valid Voting Form in favour of the Request was received by the Tabulation Agent before the Final Response Time (and who did not validly revoke such Voting Form). The Fee will be paid no later than 10 December 2019 to the Holders eligible to receive it.
For questions relating to the Consent Solicitation, the Holders are advised to contact the Solicitation Agent.
Danske Bank A/S
c/o Danske Bank A/S, Finland Branch
Kasarmikatu 21 B, PL 1613
Tel: +358 10 513 8794
Pekka Vähähyyppä, CFO, tel. +358 50 3890012
Nasdaq Helsinki Ltd