Results from Scandinavian Biogas written procedure
On 11 April 2018 Scandinavian Biogas Fuels International AB (publ) (the "Company") instructed the agent for the Company's up to SEK 300,000,000 senior secured bonds with ISIN SE0007784111 to initiate a written procedure requesting that the bondholders waive certain terms and conditions in order to allow the Company to apply funds on an escrow account in the most optimal way for the Company's business. The funds will be applied towards financing the Company's facility in Norway, payment of transaction costs and for general corporate purposes.
Although all of the bondholders that participated voted to approve the written procedure, a sufficient number of votes was not obtained in order to form a quorum and it was concluded that the written procedure had not been approved.
In accordance with the terms and conditions, the Company instructed the agent to send a second notice to a written procedure, regarding the same request to waive certain terms and conditions that was proposed in the initial notice to a written procedure, to the bondholders. The second notice to a written procedure regarding the same request does not require a quorum.
A clear majority of the Bondholders that were voting in the written procedure voted in favour of the written procedure. It is therefore resolved that the written procedure has been approved.
For further information, please contact:
CEO Scandinavian Biogas
+46 (0) 70-597 99 38
The company in brief:
Scandinavian Biogas is today one of the largest private producers of biogas as a vehicle fuel. The Company also operates a manufacturing plant for pre-treatment of food waste and industrial organic waste, as well as a plant for the production of raw biogas in South Korea.
This information is information that Scandinavian Biogas Fuels International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 19:00 on 22 May 2018.