AS Storent Investments announces partial repurchase of notes (ISIN LV0000802304)
Insider information, 2020-06-11 18:51 CEST --
AS Storent Investments (hereinafter - Storent), by exercising the rights provided for in Clause 16 of the Terms and Conditions of Notes (ISIN LV0000802304) (hereinafter – the Notes), which inter alia provides Storent's right at any time to purchase the Notes in any manner and at any price in the secondary market, hereby announces partial repurchase of the Notes for the total purchase amount not exceeding 1,000,000 EUR and for the purchase price not higher than 77% of the nominal value of the Notes (excluding accrued interest).
Each noteholder who owns the Notes has an opportunity to sell them to Storent in accordance with the procedure set out below.
The noteholders have the right to express their wish to sell the Notes in the time period between 12 June 2020 and 26 June 2020 by sending to Storent by e-mail: firstname.lastname@example.org an offer, which includes the following information:
name of the noteholder (for legal entities), name and surname (for natural persons);
registration number of the noteholder (for legal entities), personal identification code or date of birth (for natural persons);
noteholder's telephone number;
the number of Notes offered for sale;
sale price of the Notes (excluding accrued interest).
Within one business day after deadline for submission of offers (on 29 June 2020) Storent will summarize the received offers, confirm the results and inform the noteholders who have submitted offers about the extent to which their submitted offers are satisfied.
The offers will be satisfied starting from the lowest offered sale price of the Notes and not exceeding the total repurchase amount of EUR 1,000,000. If several offers are submitted for the same sale price and for the total amount exceeding the total repurchase amount, Storent will satisfy the respective offers proportionally, rounding the transaction amount to the nearest cent.
Storent will not take into account and will not satisfy offers where the offered sale price of the Notes is higher than 77% of the nominal value of the Notes (excluding accrued interest).
Storent will contact each noteholder whose offer has been approved to agree on the execution of the repurchase transaction. Transactions with all noteholders will be executed by using DVP principle (delivery vs. payment) with a settlement date on 30 June 2020.
Storent has the right to change the previously approved results if any of the noteholders withdraws from the transaction.
Storent will publish information on the total nominal value of the repurchased Notes immediately upon completion of settlement.
AS Storent Investments CFO
Mobile: + 371 29340012