Skip to main content

Correction: AS PRFoods Notice of Noteholders’ Meeting; AS PRFoods is Planning an Issue of Subordinated Convertible Notes and Tap-Issue of Secured Notes

Written by Customer Service on . Posted in Public Companies.

AS PRFoods hereby corrects the time for conducting the issue of subordinated convertible notes and the tap-issue of secured notes (the Notes) published in its 07.05.2021 market announcement “AS PRFoods Notice of Noteholders’ Meeting”. The correction is reflected in mark-up in the immediately following paragraph.

As one of the measures to mitigate the negative effects of COVID-19, PRFoods is planning – in accordance with the announcement made to the investors and the public on 07.05.2021 – to conduct an issue of subordinated convertible notes and a tap-issue of the Notes in the 2nd quarter of 2021, the successful completion of which would, in the opinion of PRFoods, reinforce the capital structure thereof and its subsidiaries, and facilitate the smoother and faster recovery from the negative impacts caused by COVID-19 and, by such means, also the faster improvement of the financial results of PRFoods. Further, the issue of subordinated convertible notes and the tap-issue of the Notes will enable the refinancing of the short-term EUR 1,500,000 investment loan borrowed in 2017 and the short-term EUR 1,000,000 bridge financing borrowed in 2021 by PRFoods from its shareholder Amber Trust II S.C.A in connection with the maturity of the relevant loans. Although the referred note issues will have an effect on the financial covenants provided in the Terms, PRFoods highlights that the subordinated convertible notes constitute subordinated instruments, wherefore the payment obligations arising therefrom will be subordinated to other, unsubordinated payment obligations of PRFoods.

In addition, AS PRFoods hereby corrects the maturity date of subordinated convertible notes published in its 07.05.2021 market announcement “AS PRFoods is Planning an Issue of Subordinated Convertible Notes and Tap-Issue of Secured Notes”. The correction is reflected in mark-up in the immediately following paragraph.

PRFoods is planning to issue up to 350 subordinated convertible notes with the nominal value and issue price of EUR 10,000 per note, and with maturity date of 1 October 2025 and interest rate of 7% per calendar year.

Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 452 1470
investor@prfoods.ee
www.prfoods.ee

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.