DistIT receives bondholder approval for short-term extension
DistIT AB (publ) (“DistIT” or the “Company”) announces that the written procedure initiated by the Company on 28 April 2025 regarding, inter alia, a short-term extension of the maturity of its outstanding senior unsecured corporate bonds has been successfully completed. In parallel, a separate written procedure is ongoing to seek bondholder approval of the previously announced principal agreement for the recapitalisation of the Company.
On 28 April 2025, the Company initiated a written procedure (the “Written Procedure”) regarding its outstanding senior unsecured corporate bonds with a maximum nominal amount of SEK 300 million and ISIN SE0015949359 (the “Bonds”), in order to obtain bondholder approval for, among other things, an extension of the Bonds’ maturity to 2 June 2025, to enable final negotiations of a principal agreement with certain bondholders concerning the recapitalisation of the Company.
A sufficient number of bondholders participated in the Written Procedure to form a quorum, and the requisite majority voted in favour of the Company’s request. Accordingly, the agent, Nordic Trustee & Agency AB (publ), has today concluded the Written Procedure. The amended terms and conditions will be made available on the Company’s website. In connection with the extension of the Bonds’ maturity, the Company intends to postpone the last day of trading in the Bonds to 2 June 2025.
As previously announced on 13 May 2025, the Company has initiated a second and separate written procedure to obtain bondholder approval for the implementation of the recapitalisation of the Company in accordance with the previously communicated principal agreement. This ongoing written procedure is independent from the now completed written procedure relating to the short-term maturity extension. Bondholders who participated in the first written procedure are also required to vote in the second written procedure for their vote to be considered in the recapitalisation decision.
The second written procedure runs until 2 June 2025. However, it may be concluded earlier if the required majority is obtained prior to the expiry of the voting deadline. The outcome will be announced by the Company following the conclusion of the voting process.
For questions regarding the administration of the Written Procedure, please contact the Agent at voting.sweden@nordictrustee.com or +46 8 783 79 00.