Brief: Lumi Gruppen Says Hanover Group Has On 11 Aug Increased Its Ownership In Co To Total Of 28 Mln Shares

Lumi Education AS

15/08/2023 16:45

Aug 15 (Reuters) - Lumi Gruppen AS  LUMI.OL :
    * DISCLOSURE OF LARGE SHAREHOLDING AND AMENDMENT OF BANK
FINANCING
AGREEMENTS
    * HANOVER GROUP HAS ON 11 AUGUST 2023 INCREASED ITS
OWNERSHIP IN
LUMI GRUPPEN AS TO A TOTAL OF 28,016,004 SHARES
    * INCREASED OWNERSHIP OF HANOVER GROUP IN CO REPRESENTS A
CHANGE
OF CONTROL EVENT UNDER COMPANY'S BANK FINANCING AGREEMENTS
    * HANOVER GROUP NOW CONTROLS 50.7% OF TOTAL ISSUED SHARES
AND
VOTES IN COMPANY
    * PAY FEE TO LENDER OF 1.40% OF TOTAL COMMITMENTS (ABOUT NOK
5.18
MILLION) IN EXCHANGE FOR CHANGE OF CONTROL WAIVER REGARDING
CURRENT FACILITIES
    * COMPANY IS OBLIGED TO AGREE ON NEW FINANCING TERMS IN SUCH
AGREEMENTS PRIOR TO 31 AUGUST 2023
    * EXPECTS TO ANNOUNCE ANY KEY CHANGES TO BANK FINANCING
AGREEMENTS' TERMS AND MARGINS PRIOR TO THIS DATE
    * SHOULD AGREEMENT NOT BE FORTHCOMING, A NON-COMPLIANCE FEE
OF
2.00% OF TOTAL COMMITMENTS (AMOUNTING TO APPROX. NOK 7,800,000)
WILL BE DUE

Source text for Eikon:  ID:nObiSWBBya 
Further company coverage:  LUMI.OL 

 ((Reuters.Briefs@thomsonreuters.com;))