At the request of
At the request of SSM, the agent has today summoned a meeting with the company's bondholders (the "Holders") through a procedure in writing (the "Written Procedure") to resolve on amending the terms and conditions of SSM's outstanding bonds of a maximum of MSEK 700.0 (of which MSEK 300.0 is outstanding and 23.2 MSEK are held by SSM) that mature in
The notice sets out the amendments that are requested to be made to the terms of the Bonds which are to permit that the Bonds are listed with Nasdaq First North (the "Request"). No further amendments are requested.
The reason behind the Request is that the Bonds are required to be listed on a regulated market pursuant to the terms and conditions and, due to a technical mistake, SSM has been informed that the Bonds have been delisted from Nasdaq Stockholm in breach of the terms and conditions. As a consequence, SSM is not compliant with the terms of the Bonds and an Event of Default will occur on
Only Holders registered in
For the amendments to be approved through the Written Procedure, a quorum representing at least 50 percent of the adjusted nominal amount must participate in the Written Procedure and at least 75 percent of the adjusted nominal amount for which Holders are voting in the Written Procedure must agree to the amendments. The outcome of the Written Procedure is expected to be announced on or around
The notice of the Written Procedure, including complete proposals for resolutions and voting instructions, will be made available on SSM's website (ssmlivinggroup.com) and sent by the agent today to registered owners and nominees of the Bonds as per
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 more information, please contact:
Email: ann-charlotte.johansson@ssmliving.se
Phone: +46 761 65 17 71
About
SSM produces smart, affordable homes with attractive shared spaces close to public transport and the city center for its target group - tomorrow's urbanites. SSM envisions a housing market for as many people as possible and today, the company is the leading property developer in its niche within the
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