Pursuant to the notice published on 15 June 2020 (the “Notice”), AS PRFoods (registry code 11560713, registered address at Pärnu mnt 141, 11314 Tallinn, Estonia; the “Issuer”) has convened a meeting of persons holding the notes (the “Noteholders”) of the Issuer, due on 22 January 2025 and bearing ISIN code EE3300001577 (the “Notes”), issued under the Terms and Conditions of Secured Note Issue of AS PRFoods dated 14 January 2020 (which have been amended on 25 February 2020; the “Terms”), that is to take place on 30 June 2020 (the “Meeting”).

The Issuer convened the Meeting to ask from the Noteholders a waiver of the financial covenants provided the Terms for the Issuer’s 2019/2020 financial year (i.e. the financial year 01.07.2019 – 30.06.2020), in light of the negative effects which the COVID-19 pandemic and the measures taken to combat the pandemic have had on the economic environment and the Issuer’s business. In relation to the Meeting and in light of the effects of the COVID-19 pandemic, the Issuer has also decided to issue to the Noteholders a confirmation appended as Annex 1 to this notice (the “Confirmation”).

As also brought out in the Confirmation to the Noteholders, the Issuer hereby informs investors that due to the current and anticipated effects of the COVID-19 pandemic on the Issuer’s results of operations in the 2019/2020 financial year, the Issuer intends upon the submission of its 2019/2020 audited annual accounts for approval by the general meeting of the shareholders, to make a proposal to the general meeting of shareholders not to distribute any dividends for the Issuer’s 2019/2020 financial year.

ANNEXES

Annex 1 – Confirmation

Additional information:

Indrek Kasela
AS PRFoods
Member of the management board
+372 452 1470
investor@prfoods.ee
www.prfoods.ee

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