Other information disclosed according to the rules of the Exchange
Amendments to AS Moda Kapitāls notes issue terms have been approved
AS Moda Kapitāls (the Issuer) informs that voting procedure on offered amendments to the notes issue terms was completed before the deadline. Investors who participated in the voting have 1 773 notes in total, which is 100% of the total number of the notes, which does not include the notes owned by the Issuer and/or its related parties (subsidiaries, shareholders, members of the supervisory council and the management board or employees). All note holders who participated in the voting procedure supported the offered amendments and they come into force immediately.
Investors supported the following amendments:
Repayment of face value is changed to 15 November 2025;
Coupon (interest) rate will not depend on share of equity in balance sheet and is changed to the following rate:
8% for a period from 16.11.2020 to 15.11.2021,
9% for a period from 16.11.2021 to 15.11.2022,
10% for a period from 16.11.2022 to 15.11.2023,
13% for a period from 16.11.2023 to 15.11.2025.
In addition the issuer offers to amend 6.5 section “Early redemption” by adding a right of note holders to demand early redemption of the notes in case if according to the issuer’s audited annual starting from the year 2020 the balance sheet reports equity less 100000 EUR and if during 30 (thirty) day period after the audited annual report shareholders do not increase it to at least 150000 EUR.
AS Moda kapitāls executive director