Bondholders approve to amend the terms and conditions of Pro Kapital’s senior secured bonds

On 9 June 2020, AS Pro Kapital Grupp ("Pro Kapital”) initiated a written procedure (the "Written Procedure”) among the holders of its senior secured bonds 2020/2024 with ISIN SE0013801172 (the "Bonds”) to request the holders to approve an amendment of the terms and conditions of the Bonds. The amendment, now passed by bondholders, enables the German subsidiary of the group to undertake a government loan to alleviate post-COVID-19 recovery.

As further detailed in the notice of Written Procedure (available at Pro Kapital’s website), the proposed technical amendments related to the amendment of the maintenance test definition in respect of Pro Kapital’s German hotel operations.

The time for replies in the Written Procedure expired on 29 June 2020. Pro Kapital hereby announces that a sufficient number of votes were obtained in order to form a quorum and that a requisite majority of the bondholders voted in favour of the amendments. The terms and conditions of the Bonds will therefore be amended as set out the notice of Written Procedure.

The amended version of the terms and conditions will be effective as from 30 June 2020 and will be published on Pro Kapital’s website (www.prokapital.com) and on Stamdata (www.stamdata.com).

For questions regarding the administration of the Written Procedure, please contact the agent at voting.sweden@nordictrustee.com or +46 8 783 79 00. For other questions, please contact Pro Kapital.

Allan Remmelkoor
Member of the Management Board
Phone: +372 614 4920
Email: prokapital@prokapital.ee