SSM obtains the bondholders’ approval of amendment to the terms of the company’s outstanding bonds

At the request of SSM Holding AB (“SSM”), the agent summoned to a meeting with the company’s bondholders by way of a procedure in writing to resolve on amending the terms and conditions of SSM’s outstanding bonds. The procedure has now expired and SSM has obtained the bondholders’ approval of amending the terms and conditions.

Reference is made to the press release dated October 9, 2020 regarding a summon to SSM’s procedure in writing (the “Written Procedure”) in order to resolve on amending the terms and conditions of SSM’s outstanding bonds (the “Terms and Conditions”) of maximum 700.0 MSEK (of which 300.0 MSEK is outstanding and 23.2 MSEK is held by SSM) that mature in May 2022 (ISIN SE0008040893) (the “Bonds”).

The Written Procedure expired on October 28, 2020. A sufficient number of bondholders participated in the Written Procedure in order to meet a quorum and a requisite majority of the bondholders voted in favor to approve the Request (as defined in the notice of Written Procedure). The Request in the Written Procedure has thus been approved.

As a result, the Terms and Conditions have been amended to permit that the Bonds are listed with Nasdaq First North. SSM has commenced the process of having the Bonds listed with Nasdaq First North.

As a consequence of the bondholders’ approval of the Request the Event of Default that occurred on October 23, 2020 is no longer outstanding and SSM is no longer in breach of the terms and conditions.

 
For more information, please contact:

Ann-Charlotte Johansson
EVP Communications & IR
Email:
ann-charlotte.johansson@ssmliving.se
Phone: +46 761 65 17 71

 
 
About SSM Holding AB (publ) 

SSM produces smart, affordable homes with attractive shared spaces close to public transport and the city center for its target group – tomorrow’s urbanites. SSM envisions a housing market for as many people as possible and today, the company is the leading property developer in its niche within the Greater Stockholm area. On June 30, 2020, SSM had approximately 4,500 building rights in its portfolio. SSM has been listed on Nasdaq Stockholm’s Main List since April 6, 2017  www.ssmlivinggroup.com