SEM receives consent from the noteholders in the written procedure for its outstanding bond loan and announces the intention to repurchase bonds

Swedish Electromagnet Invest AB (publ) (the “Company” or “SEM”) initiated on 13 April 2023 a written procedure (the “Written Procedure”) under its outstanding bond loan 2018/2023 with ISIN SE0011167600 (the “Bonds”). The Written Procedure was initiated for the purpose of requesting the noteholders’ approval to, inter alia, extend the maturity of the Bonds until June 2026 and make certain other amendments to the terms and conditions of the Bonds as described in more detail in the notice of Written Procedure which is available on the Company’s web page.

SEM today announces that the Written Procedure has been successfully concluded and that a sufficient number of votes were obtained in order to form a quorum and that approximately 90 per cent. of the adjusted nominal amount for which the noteholders were voting, voted in favour of the proposed amendments in the Written Procedure. Accordingly, the agent, Nordic Trustee & Agency AB (publ), has today concluded the Written Procedure. The terms and conditions of the Bonds have been amended and restated effective from today and reflects the approval of the requests (the “Amended and Restated Terms and Conditions”). The Amended and Restated Terms and Conditions will be available on the Company’s web page.

In accordance with the Written Procedure, an amendment fee amounting to one (1.00) per cent. of the nominal amount of the Bonds (being in an aggregate amount of SEK 3,360,000) will be paid to the noteholders within 20 business days from the date the Amended Terms and Conditions entered into effect. Further information about the payment date and the record date for the amendment fee will be announced by SEM in a press release in accordance with the provisions of the Written Procedure.

In accordance with the Amended and Restated Terms and Conditions, SEM shall procure that an equity injection of at least SEK 20 million is made to the Company within 20 business days from the date the Amended Terms and Conditions entered into effect and that SEK 16.64 million of the equity injection primarily shall be used towards buying back Bonds (the “Repurchase Amount”) below or at par in the secondary market or in any other way (“Repurchases”). SEM hereby announces that the Company, in accordance with this undertaking, intends to carry out Repurchases in an amount equal to at least the Repurchase Amount subject to prevailing market conditions. Noteholders who want more information or are interested in Repurchases are kindly requested to contact Pareto Securities AB at the following e-mail address or phone number:

Pareto Securities AB
Caroline M. Nytvedt
caroline.nytvedt@paretosec.com
+47 99 77 75 19

For questions regarding the administration of the Written Procedure, please contact Nordic Trustee & Agency AB (publ) at voting.sweden@nordictrustee.com or +46 8 783 79 00.

For further information, please contact the Company:

Halvar Jonzon, Chairman of the board
halvar.jonzon@telia.com
+46 70 663 65 67

Christina Hallin, CEO
christina.hallin@sem.se
+46 70 821 11 89

This information is information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 26 April 2023, at 17:15 CEST.

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