On Changing Face Value of Issued Bonds
Riga, Latvia, 2019-06-17 15:46 CEST --
Liquidation Committee of ABLV Bank, AS in liquidation (hereinafter – the Company) has made a decision to carry out change of face value for each bond of all bonds issued by the Company to EUR 0.01 applied to all bonds with face value expressed in EUR, and to USD 0.01 applied to all bonds with face value expressed in USD.
After the changes the total amount of claims arising from the bonds shall remain the same – the face value of one unit shall be decreased, but the total amount of bonds shall be increased proportionally in a way to keep the total amount of claims the same.
The change of face value of the bonds is necessary in order to make possible organisation of disbursements under claims of the Company’s creditors that are arising from the bonds issued by the Company by stages, partially and individually to each bondholder.
The face value of the bonds shall be changed on 12 July 2019.
The Company is entitled to carry out such financial instrument action in accordance with Section 139 of the Credit Institutions Law, which provides that the liquidator sets the procedure of disbursements and covering the debts. Change of face value of the bonds will in no way affect the lodged creditors’ claims and the procedure of approving them.
ABLV Group Communications Leader
Tel.: +371 6700 2454