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PWT Holding A/S – Initiates a written procedure

Written by Customer Service on . Posted in Public Companies.

Company Announcement, Aalborg 14 April 2020PWT Holding A/S (the “Company“) has instructed the agent for the Company’s up to DKK 475,000,000 senior secured bonds with ISIN DK0030405188 (the “Bonds“) to initiate a written procedure to request the bondholders to vote in favour defer the interest payment due 20 April 2020 (relating to the Interest Period ending on 18 April 2020).
The global outbreak of COVID-19 and subsequent closure of the Group’s stores in mid-March will have a severe negative impact on operational and financial performance for the full year. The impact may be further worsened if the stores cannot open 10 May 2020 as currently projected. The current situation has a material impact on the Group’s liquidity position and in order to help the Group to mitigate its liquidity shortage, the Issuer hereby asks the Bondholders to agree to defer the interest payment due 20 April 2020.For further background, we refer to the company announcement issued 6 April 2020, available at following link (http://www.pwt-group.com/?p=2836) relating to the current situation and the mitigating measures taken by the Issuer. As described in the company announcement the Group intends to reach out to the Bondholders with a long-term proposal.The agent will deliver the notice to a written procedure to all bondholders on 14 April 2020. The written procedure will commence on 20 April 2020 and end on 12 May 2020. To be eligible to participate in the written procedure a person must fulfil the formal criteria for being a bondholder on 20 April 2020.Pareto Securities AB has been retained as financial advisor in connection with the written procedure.The notice to the written procedure is available on the Company’s website (www.pwt-group.com) and on Stamdata (www.stamdata.com).For further information, please contact:
PWT Holding A/S
Ole Koch Hansen, CEO
Telephone: +45 40444130
E-mail: ole@pwtgroup.dkClaus Back Nielsen, CFO
Telephone: +45 25434611
E-mail: cbn@pwtgroup.dkInformation:
This information is information that PWT Holding A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at [**] CEST on 14 April 2020. AttachmentPWT – Notice of written procedure (execution version)

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