Bondholders’ Meeting in Bong resolves on amendments to

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News Desk 2018

Jan 20, 2016 at 3:45 AM

Bondholders’ Meeting in Bong resolves on amendments to Convertible Bonds in order to enable the conversion into Bong shares.

The Bondholders’ Meeting held on 19 January 2016 resolved to amend the terms and conditions of the SEK 75 million Convertible Bonds 2013/2018 with ISIN SE0005281821 (the “Convertible Bonds”) in Bong AB (publ) ("Bong") as requested by Bong. The amendments are subject to approval by the EGM (defined below). Provided that such approval is granted, the amendments will enable Bong, as well as the Bondholders, to convert all Convertible Bonds into Bong shares at a conversion price of SEK 2.75 per share. In addition, the Bondholders shall during a three-month period be entitled to subscribe for in total 9,999,975 Bong shares at a subscription price of SEK 1.00 per share in order for the conversion to be allowed. Bong has previously announced certain proposed transactions to significantly reduce and change the nature of Bong’s indebtedness, including conversion of all Convertible Bonds into Bong shares. On 15 December 2015, Bong announced that it had raised SEK 200m trough a senior secured bond issue and that one of several conditions for the release of the bond proceeds and the repurchase of the current banks’ claims on Bong is that all Convertible Bonds are converted into Bong shares. The Bondholders’ Meeting resolved to amend the terms and conditions of the Convertible Bonds in order to allow for Bong to convert all Convertible Bonds into Bong shares at any time and at a conversion price of SEK 2.75 per share. The amendments also entail an extended right for the Bondholders to convert their Convertible Bonds. In addition and subject to approval by the extraordinary general meeting in Bong to be held on 25 January 2016 (the “EGM”), Bondholders registered as such per 12 January 2016 (the “Voting Record Date”) for voting at the Bondholders’ Meeting shall, during a three-month period after the EGM, be entitled to subscribe for 133,333 Bong shares per Convertible Bond held at the Voting Record Date, in total 9,999,975 Bong shares, at a subscription price of SEK 1.00 per share in order for a conversion to be allowed. As previously communicated, the amendments to the terms and conditions of the Convertible Bonds are subject to approval by the EGM. Provided that the EGM resolves to amend the terms and conditions of the Convertible Bonds in accordance with the above, the amendments will be submitted to the Swedish Companies Registration Office for registration. Subsequently, Bong intends to convert all Convertible Bonds into Bong shares. About Bong Bong is a leading provider of specialised packaging and envelope products in Europe, offering solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are packaging within retail and e-commerce and the envelope market within Eastern Europe. The Group has annual sales of approximately SEK 2.3 billion and about 1,685 employees in 16 countries. Bong has strong market positions in the majority of key markets in Europe, and the Group sees interesting possibilities for continued expansion and development. Bong is a public limited company whose stock is quoted on Nasdaq Stockholm (Small Cap). Bong AB (publ) discloses the information in this press release pursuant to the Securities Markets Act. The information was provided for public release on 20 January 2016 at 08.00 CET. For further information contact Stéphane Hamelin, CEO, Bong AB. Phone (switchboard) +46 44-20 70 00

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