Published: 2021-02-25 10:53:10 CET
Storent Investments
Inside information

AS Storent Investments requests noteholders to exchange their notes with the new notes

Insider information, 2021-02-25 10:53 CET --    

   As Covid-19 virus continues to negatively impact lives of people and state of economy of many countries including in the Baltics, financial performance of AS Storent Investments (the Issuer) has been severely affected. The management of the Issuer has been actively engaged in minimizing the virus impact on the group and the Issuer has successfully implemented digital strategy, which allows to service clients remotely and more efficiently. A detailed presentation on the new strategy implementation and operation performance is attached to this announcement. Since November 2020, the Issuer has also repurchased its notes (ISIN LV0000802304) (the Existing Notes) in amount of 3.8 million EUR out of 6.8 million EUR.

   However, the Existing Notes mature on 30 June 2021 and the Issuer might not have financial means to fully redeem the Notes therefore it requests the noteholders who own the Existing Notes to apply for the exchange to the New Notes (ISIN LV0000802411). The offer period is March 1-12, 2021.

   The exchange ratio is one-to-one, and the noteholders may apply for the exchange with any number of the Existing Notes owned by them. The Noteholders should duly inform their custody banks about a number of the Existing Notes which the noteholders wish to use for the exchange with the New Notes.

   The noteholders who will apply for the exchange are entitled to receive a fee of 2 (two) per cent of total nominal value of the Existing Notes that the noteholders have exchanged with the New Notes. The fee will be paid on 23 March 2021 and for tax purposes the fee payment will be treated as interest payment.

   Exchange of the Existing Notes with the New Notes will take place on 16 March 2020. The Existing Notes will be deleted from the noteholders accounts and the New Notes will be credited in the same number.

   Terms and conditions of the New Notes can be obtained on Nasdaq Baltic website.


Baiba Onkele

AS Storent Investments CFO

Mobile: + 371 29340012


Storent Investments AS 2021 February 25.pdf