Stockholm, April 14, 2020 (GLOBE NEWSWIRE) --
Nordic Trustee & Agency AB (publ) (the “Trustee”) will today send a notice of written procedure to the holders of Vostok New Ventures Ltd’s (“VNV Bermuda” and jointly with its subsidiaries, “VNV”) bonds 2019/2022 with ISIN SE0013233541 (the “Bonds” and the “Written Procedure”, respectively).
As described in VNV’s press release on 7 April 2020, VNV Bermuda’s board of directors has proposed to change the domicile of VNV from Bermuda to Sweden by way of cancellation of Swedish depository receipts in VNV Bermuda in exchange for shares in a Swedish group entity (“VNV Sweden”) that, following the domicile change, will be VNV’s new parent company.
The domicile change requires that VNV Sweden replace VNV Bermuda as issuer of the Bonds as well as certain amendments and waivers in relation to the bond terms and the underlying agreements regarding the security. VNV Bermuda has therefore instructed the Agent to send out a notice of Written Procedure, containing a description of inter alia the background and procedures in relation to the domicile change and the issuer exchange, the requests that VNV Bermuda asks the bondholders to approve and the voting procedure. The notice is attached hereto and will also be published on VNV’s web site (www.vostoknewventures.com).
Prior to instigating the Written Procedure, VNV has approached bondholders representing approximately 32 per cent. of the adjusted nominal amount, all of which have expressed their intention to vote in favour of the proposed resolutions in accordance with the notice.
For additional information regarding the administration of the Written Procedure, please contact:
Nordic Trustee & Agency AB (publ): sweden@nordictrustee.com or +46 8 783 79 00
For further information please contact:
Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok New Ventures Ltd is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
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