Real People Investment Holdings Limited: Nordic bondholders approved an extension of the standstill period in written procedure
Real People Investment Holdings Limited (the "Company") today announces the successful completion of a written procedure in relation to the Company's outstanding SEK 260,000,000 and NOK 135,000,000 senior unsecured callable bonds with ISINs SE0005392560 and NO0010689342 2013/2018.
The Nordic bondholders authorized the bondholders' agent to (i) consent to an extension of the last date of the Standstill Period (as defined in the Standstill Agreement referred to below) from no later than 31 August 2017 until no later than 30 November 2017, and (ii) approve that an addendum is made to the Standstill Agreement to the effect that the automatic termination of the Standstill Period upon certain events is qualified by the requirement that the Majority Standstill Creditors (as defined in the Standstill Agreement) also elects to terminate the Standstill Period (the "Proposal").
As previously communicated in press releases, the Real People Group is experiencing financial difficulties and the Company has entered into a Standstill Agreement with the Nordic bondholders and its other senior creditors in order to facilitate a restructuring of its capital structure. During the standstill period the creditor parties to the standstill agreement may not take enforcement actions against the Company (save for in certain limited circumstances).
For further information, please contact:
Neil Grobbelaar, Group Chief Executive Officer
The information contained in this press release is such information that Real People Investment Holdings Limited is required to publish in accordance with the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication, through the agency of the contact person set out above, on 22 August 2017 at 20h30.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Real People Investment Holdings Limited via Globenewswire
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