Brief: Starbreeze & Smilegate Agree To Amend Convertible Bond Terms

Starbreeze AB

06/12/2019 12:13

Dec 6 (Reuters) - Starbreeze AB  STZEb.ST :
    * STARBREEZE & SMILEGATE AGREE TO AMEND CONVERTIBLE BOND
TERMS -
EXTENDED TO 2024 FOR AN ESTIMATED SURCHARGE OF SEK 165 MILLION.
BOTH ARE SUBORDINATED & WILL BE PAID FROM AVAILABLE CASH FLOW
    * SURCHARGE TO STARBREEZE IN EXCHANGE FOR THESE AMENDMENTS
IS
ESTIMATED AT SEK 165 MILLION, WILL BE SUBORDINATED TO OTHER
DEBTS AND CARRIED FOR FIVE YEARS AT ZERO (0) PERCENT INTEREST.
    * MATURITY OF CONVERTIBLE BOND WILL BE EXTENDED FROM
FEBRUARY 2020
TO DECEMBER 2024 AND SUBORDINATED TO OTHER DEBT
    * SMILEGATE REQUESTED AN ADJUSTED CONVERSION PRICE FOR
CONVERTIBLE
BOND
    * CURRENT TERMS SPECIFY A CONVERSION PRICE OF SEK 13.49 PER
SHARE
OR A LOWEST PRICE OF SEK 9.35 PER SHARE
    * SMILEGATE HAS ALSO REQUESTED AN ADJUSTED CONVERSION PRICE
FOR
CONVERTIBLE BOND
    * EXTRAORDINARY GENERAL MEETING WILL BE HELD NO LATER THAN
13
JANUARY 2020
    * CURRENT TERMS SPECIFY A CONVERSION PRICE OF SEK 13.49 PER
SHARE
OR A LOWEST PRICE OF SEK 9.35 PER SHARE, BASED ON AVERAGE PRICE
OVER 60 DAYS IMMEDIATELY PRECEDING DATE CONVERSION IS CALLED.

Source text for Eikon:  ID:nWkr6Km7WJ 
Further company coverage:  STZEb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))