Swedish ATP Management AB (publ)
Swedish ATP Management AB (publ): Disclosure of inside information according to Article 17 of the EU Market Abuse Regulation No 596/2014
Swedish ATP Management AB (publ) / Key word(s): Bond Disclosure of inside information according to Article 17 of the EU Market Abuse Regulation No 596/2014 PRESS RELEASE As communicated in the press release made on 29 May 2020, the owners of the company (i.e., the bondholders represented by the bondholder committee, representatives of certain larger bondholders as appointed in connection with the restructuring of West Atlantic AB’s bond in 2019), LUSAT and the minority shareholders of West Atlantic (who were the shareholders of West Atlantic prior to the restructuring of West Atlantic’s bond) (together, the “Parties”) have been in discussions with the aim to reach an agreement in order to, inter alia, solve the company’s financial difficulties. The company, which has not taken part in any discussions or negotiations in respect thereof, has today by its ultimate owners, been informed that the Parties have reached an agreement in principle with the below main terms and conditions (subject to a final master transfer agreement formalising the agreement between the Parties).
On the third instalment, the company will have the option to (i) pay SEK 100 million, or (ii) pay SEK 95 million and share with the bondholders any possible upside on the divestment of the company’s ATP-fleet up to SEK 20 million.
A master transfer agreement formalising the agreement in principle will be entered into between the Parties as soon as possible. The agreement and all transactions and actions related thereto will be subject to the bondholders’ approval in a written procedure. More information in relation to the Parties’ agreement and the time schedule will be provided in the notice to the written procedure that will be made available by the company at the latest in July. Closing of the transaction is estimated to occur in August 2020. For further information, please contact: This information is information that Swedish ATP Management AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2020-06-16, 18.00 CEST. About Swedish ATP Management Swedish ATP Management is a newly established asset management company dedicated to manage the BAE ATP (Advanced Turboprop) the most cost efficient cargo aircraft in its segment (8 ton in both metric volume and payload). We aim to increase ATP operations and utilization through our provided services. Swedish ATP Management AB (publ) reg. no.: 559204-4084, Box 5433, SE-402 29 Gothenburg, Sweden, www.atpcargo.com
16-Jun-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Swedish ATP Management AB (publ) |
Box 5433 | |
40229 Göteborg | |
Sweden | |
Phone: | +46 70 558 58 65 |
E-mail: | stefan@atpcargo.com |
ISIN: | SE0012930089 |
WKN: | A19NPH |
Listed: | Regulated Unofficial Market in Frankfurt |
EQS News ID: | 1071549 |
End of Announcement | DGAP News Service |