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ELENIA OY AND ELENIA FINANCE OYJ ANNOUNCE THE FINAL NUMBER OF VOTES CAST IN FAVOUR OF THE STID PROPOSAL, FOLLOWING THE EXPIRATION OF THE STID PROPOSAL DECISION PERIOD
3 December 2019
On 28 November 2019, Elenia Finance Oyj ("Elenia Finance") announced that the Security Trustee had received the requisite votes in favour of the STID Proposal for it to be passed and implemented.
Following the expiration of the STID Proposal decision period on 29 November 2019, the Security Trustee has informed Elenia Oy that altogether 2,140 million votes were cast out of total potential votes of 2,249.50 million. This implies that 95.1% of Secured Creditors (by value) voted. The number of votes in favour of the STID Proposal were altogether 1,960 million votes, which represents 91.6 per cent. of the Voted Qualifying Debt. Accordingly, the Extraordinary STID Resolution proposed by the STID Proposal was duly passed.
The implementation of the STID Proposal will occur in a series of phases, commencing in the final quarter of 2019 and scheduled to complete by 31 July 2020. Each phase is conditional upon the satisfaction of certain conditions precedent and the execution of the amendments, consents and waivers as further described in the STID Proposal. Elenia Oy will make an announcement as soon as practicable once these phases have been completed and the STID Proposal has been implemented.
Capitalised terms used in this announcement but not defined have the meanings given to them in the STID Proposal dated 4 November 2019 (the "STID Proposal").
General enquiries in connection with the STID Proposal may be directed to Elenia Finance:
Elenia Finance Oyj
Telephone: +358 45 265 1313
Attention: Sasu Kämäräinen
This announcement must be read in conjunction with the STID Proposal. No offer or invitation to acquire or sell any securities is being made pursuant to this announcement. The distribution of this announcement and/or the STID Proposal in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the STID Proposal comes are required by each of Elenia Finance, Elenia Oy, the Security Trustee and the Bond Trustee to inform themselves about and to observe any such restrictions.
If any Qualifying Secured Creditor is in any doubt as to the action it should take or is unsure of the impact of the STID Proposal, it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. None of Elenia Finance, Elenia Oy, the Security Trustee or the Bond Trustee is providing Qualifying Secured Creditors with any legal, business, financial, tax or other advice in this announcement or the STID Proposal.
None of Elenia Finance, Elenia Oy, the Bond Trustee, the Security Trustee or any of their respective directors, officers, employees, agents or affiliates makes any representation or recommendation whatsoever regarding this announcement or the STID Proposal.
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