SSM obtains the bondholders’ approval of amendments in the terms of the company’s outstanding bonds

At the request of SSM Holding AB (publ) (”SSM”) the agent summoned to a meeting with the bondholders by way of procedure in writing in order to resolve of amendment of the project undertaking in the bond terms. The procedure has now expired and SSM has obtained the bondholders’ approval of amending the bond terms.

Reference is made to the press release dated 31 May 2018 regarding 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 SEK 700 million (of which SEK 400 million is outstanding) with ISIN SE0008040893 (the “Bonds”).

The Written Procedure expired on 20 June 2018. The Request (as defined in the notice of Written Procedure) received acceptance by 94.95 per cent of the votes casted in the Written Procedure and a sufficient number of bondholders participated in the Written Procedure in order to meet quorum of at least 50 per cent of the adjusted nominal amount. The Request in the Written Procedure has thus been approved.

As a result, the project undertaking of the Terms and Conditions has been amended which enable SSM to start production of projects provided that the sales rate for all SSM’s cooperative apartments under production amounts to at least 60 per cent. If SSM does not meet this level, SSM still has the possibility to start the production of projects provided that binding pre-agreements have been entered into regarding at least 50 per cent of all cooperative apartments in the relevant project.

All bondholders that have voted for the Request will obtain a consent fee equivalent to 0.25 per cent of the nominal amount per Bond that the bondholder has voted for the Request with. The consent fee will be paid to the bank accounts specified by the bondholders in the “Voting Form” no later than on 12 July 2018.

For questions regarding the administration of the Written Procedure, please contact the agent at voting.sweden@nordictrustee.com or +46 8 783 79 00.

For more information, please contact:

Ann-Charlotte Johansson
Chief Communications & IR
Telephone: +46 (0)761-65 17 71
Email: ann-charlotte.johansson@ssmliving.se

www.ssmlivinggroup.com

About SSM Holding AB (publ)

SSM produces smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group — the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 60 percent cooperative apartments, 30 percent rental units and 10 percent student housing. SSM is the leading property developer in its niche within the Greater Stockholm area and in June 2018, the company has approximately 6,800 building permits in its portfolio. SSM was listed on Nasdaq Stockholm (Mid-cap) April 6, 2017.