Bellman Group obtains the bondholders’ consent to deviate from and to amend the terms and conditions of the company’s outstanding bonds

WEDNESDAY DECEMBER 31, 1969

At the request of Bellman Group AB (publ) (the “Company” or “Bellman Group”) a meeting by way of procedure in writing was summoned on 11 June 2018 among the holders of the Company’s outstanding bonds 2017/2022 (the “Written Procedure”). The Written Procedure has now expired and the Company has received the bondholders’ approval to the proposal set out in the notice.

The Written Procedure expired on 29 June 2018. The proposal in the notice to the Written Procedure received acceptance from 100 per cent of the votes cast, 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 Proposal in the Written Procedure has thus been approved.

As a result, the terms and conditions of the bonds have been amended, inter alia, so that the framework amount has been increased to a maximum of SEK 600,000,000 and a so called maintenance test and an equity cure-provision have been included. Through the approval, the bondholders have also consented to that the Company, in connection with the Company’s issue of additional bonds to finance the acquisition of VSM Entreprenad AB, deviates from the calculation principles that according to the terms and conditions of the bonds otherwise apply when calculating the Add-on Acquisition Incurrence Test.

For a full description of the proposed resolutions which have now been approved, see further in the notice to the Written Procedure. For questions regarding the administration of the Written Procedure, please contact the agent at voting.sweden@nordictrustee.com or +46 8 783 79 00.

As a consequence of the bondholders’ approval of the proposal in the Written Procedure, the condition for the Company’s issue of further bonds in an amount of SEK 280,000,000, which was announced through press release on 14 June 2018, has also been fulfilled. The settlement date of the new bonds is set to 3 July 2018.

All bondholders who have voted in favour of the proposal in the Written Procedure will obtain a consent fee equivalent to 2 per cent of the nominal amount per Bond that the bondholder has voted in favour of the Proposal with. The consent fee will be paid to the bank accounts specified by the bondholders or their nominees in the “Voting Form” at the latest on 20 July 2018.

For additional information, please contact:
Håkan Lind, CEO, Bellman Group, +46 (0) 70 669 80 28, hakan@bellmans.se

Roger Axelsson, CFO and Head of Communications, Bellman Group, +46 (0) 70 874 50 41, roger@bellmans.se

About this information
This information is information that Bellman Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the Company’s CEO, at 18 pm CEST on 29 June 2018.

About Bellman Group
Bellman Group AB is comprised of Bellmans Åkeri & Entreprenad AB and Grundab Entreprenader i Stockholm AB, who are haulage contractors, as well as of Modern Sprängteknik i Norden AB with the subsidiaries Uppländska Bergkrossnings AB, Uppländska Bergborrnings AB and Sprängarbeten i Trönödal AB (MST), who undertake blasting operations. The Company has sales of SEK 828 million (2017), 168 employees and approximately 400 subcontractors.

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