Agent has issued notice to convene Written Procedure and published Information Memorandum
(Thomson Reuters ONE) -
Press Release
October 10, 2013
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Agent has issued notice to convene Written Procedure and published Information
Memorandum
Pursuant to a notice dated 10 October 2013 (the "Notice"), CorpNordic Sweden AB
(the "Agent") has convened a procedure in writing (the "Written Procedure") of
the holders (the "Bondholders") of the outstanding 10%/13% 2010/2014 bond loan
issued by Russian Real Estate Investment Company AB (publ) ("Ruric" or the
"Company") with ISIN SE0003045848 and with an outstanding total nominal amount
of SEK 619,750,000 (the "Bond Loan"), divided into 6,197,500 individual bonds
(the "Bonds").
The purpose of the Written Procedure is to allow Bondholders to vote on their
approval of Ruric's proposal to the Bondholders (the "Proposal"). In summary,
Ruric proposes that all outstanding Bonds together with accrued but unpaid
interest thereon (the "Accrued Interest") are exchanged, in whole but not in
part, on a pro rata basis for the entire share capital of St Petersburg Property
Company AB, a public limited liability company incorporated in Sweden with
registration number 556911-8275 ("SPPC"), (i) which through its subsidiaries
will own certain properties and (ii) to which Ruric will issue 26,037,139 Class
B shares of Ruric (the "New Shares") representing 20 per cent. of the total
share capital of Ruric following the issue of the New Shares. After the Bonds
have been exchanged as set out above, the Bonds will be considered fully
redeemed and will be immediately cancelled.
In connection with the issue of the Notice to convene the Written Procedure, the
Agent has also made available to the Bondholders an information memorandum (the
"Information Memorandum"). The Information Memorandum sets out in detail the
Proposal and the execution thereof (the "Restructuring"). The Information
Memorandum can be accessed through the Company's website:
http://ruric.com/eng/investors/meetings/.
Ruric's shareholders should be aware that the Restructuring is conditional upon
the approval of the Bondholders. Ruric will issue a notice to attend an
extraordinary general meeting of the shareholders of Ruric today, which is to
decide on whether the Restructuring is approved by Ruric's shareholders.
For additional information:
Tatiana Ottestig, CEO
Tel.: +7 (812) 309-78-95
E-mail: tottestig(at)ruric.com
Web: www.ruric.com
About Ruric:
RURIC AB (Russian Real Estate Investment Company AB (publ) (reg. no.
556653-9705, Lindhagensgatan 94, SE-112 18 Stockholm)) is a public limited
liability company incorporated under the laws of Sweden, operating in the St.
Petersburg commercial real estate market since 2004.
The company is dealing with the investment projects coordination, local and
national market approach consulting, valuation and property trust services. Real
estate portfolio construction and management services are also included.
RURIC's Certified Advisor at First North is Erik Penser Bankaktiebolag
Press Release - October 10, 2013 (.pdf file):
http://hugin.info/141656/R/1734694/581080.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Russian Real Estate Investment Company via Thomson Reuters ONE
[HUG#1734694]
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2013 - 09:33 Uhr
Sprache: Deutsch
News-ID 304604
Anzahl Zeichen: 4446
contact information:
Town:
Stockholm
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Agent has issued notice to convene Written Procedure and published Information Memorandum"
steht unter der journalistisch-redaktionellen Verantwortung von
Russian Real Estate Investment Company (Nachricht senden)
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