Cherry AB (publ) – STO: CHER-B.ST – has, as announced on 26 March 2018, instructed Nordic Trustee to initiate a written procedure aimed at extending the schedule allowing Cherry to amend the restructuring of its legal structure, until 30 September 2018. Holders of bonds totaling a nominal amount of about EUR 148.5 million, corresponding to approximately 82.5 percent, have approved the amended schedule.
On 22 December 2017, Cherry instructed Nordic Trustee, the agent for Cherry’s outstanding bond loan of EUR 179,877,500, with ISIN SE0008321616, to implement a written procedure aimed at inter alia adjusting the covenants of the bond, to facilitate changes in Cherry’s legal structure and to increase the company’s financial flexibility. The changes in the Group’s legal structure are made in order to better match its operational structure. Accordingly, Cherry will, among other things, improve its administration.
On 26 March 2018, Cherry has instructed Nordic Trustee to initiate a written procedure aimed at extending the schedule allowing Cherry to amend the restructuring of its legal structure, until 30 September 2018.
The written procedure was concluded today and bondholders representing a sufficient number of votes to form a quorum have voted in favour of Cherry’s request. It is thus concluded that the company’s request has been approved.
The Terms and Conditions and the summons to written procedure are published on Cherry’s website, www.cherry.se.
For further information, please contact:
Anders Holmgren, CEO: +46 708 607 534, email@example.com
Christine Rankin, CFO: +46 765 399 492, firstname.lastname@example.org
Anders Antonsson, IR & Communications: +46 709 994 970, email@example.com
This information was submitted for publication on 16 April 2018, at 6:10 p.m. CET.
CHERRY IN BRIEF
Cherry is a Swedish innovating and fast-growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast growing and profitable businesses within the gaming and casino industry. Today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.