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Regulatory press release

First Hotels AB (publ) AB Refinancing Agreement Announcement

Hotel Fast SSE
Download the release

First Hotels AB ("The Company") has, through its wholly-owned subsidiary First Hotels International AS, entered into a refinancing agreement. This agreement involves repaying outstanding debt to Host Hoteleiendom AS and issuing two new convertible loans totaling approximately MSEK 12 to loan givers Gate Group AB and Seljeli Invest AS. The new loans carry an annual interest rate of 15 percent and are due for payment on December 31, 2024.

As part of the agreement, The Company has granted a conversion right to one of the new lenders in First Hotels International AS at an accounted value of NOK 6,329,702.80, with a conversion price of NOK 3 per share. Additionally, an option for a conversion right in First Hotels AB at SEK 1.50 has been granted to the other lender.

The lender with conversion rights to First Hotels International AS may, at the Maturity Date require settlement (by way of set-off of the loan) of all or part of their loan amount, in addition to accrued interest, to be converted to shares by providing written notice to The Company.

The lender with option for a conversion right in First Hotels AB must declare whether to exercise the option on or before October 15 2014

The conversion rights were issued under the authorization granted to the Board of Directors by the Annual General Meeting of The Company on June 24, 2024.

For further information, please contact:
Thomas Gillespie, CEO
Tel: +47 940 90 061
E-mail: thomas.gillespie@firsthotels.com

Sepideh Carlsson, CFO
Tel: +46 704 53 25 36
E-mail: sepideh.carlsson@firsthotels.com

About First Hotels
First Hotels AB (publ) is an independent company listed on Nasdaq First North in Sweden (Ticker: HOTEL), providing franchise rights and marketing services to hotels affiliated with the 'First Hotels' chain. There are 57 First Hotels in total, with 32 located in Sweden, 5 in Norway, and 20 in Denmark. The company's headquarters is situated in Stockholm. Mangold Fondkommission, phone +46 8 503 01 550, serves as the Company's Certified Adviser. For more information, please visit www.firsthotelsab.com.

This information is information that First Hotels AB (publ) 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, at 2024-07-05 16:13 CEST.

Attachments
First Hotels AB (publ) AB Refinancing Agreement Announcement

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