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On June 10, 2024, the Firm unveiled its blueprint for restructuring, referred to as the “Reorganization Plan,” as a part of its ongoing reorganization proceedings in Sweden. Following this, on June 11, 2024, the Firm formally petitioned the Stockholm District Court docket to provoke the plan proceedings. Immediately, the Stockholm District Court docket has determined that the pivotal plan listening to, whereby affected stakeholders will solid their votes on the Reorganization Plan, is scheduled for 1:00 p.m. CEST on Friday, July 12, 2024.
All events impacted by the corporate’s reorganization course of, together with collectors and holders of the Firm’s widespread shares, are entitled to take part within the plan listening to and train their voting rights on the proposed Reorganization Plan. These wishing to nominate a proxy or grant energy of legal professional to the administrator for voting in favor of the Reorganization Plan should furnish a dated written energy of legal professional to the designated proxy or the administrator, as relevant.
Pointers for Widespread Shareholders Wishing to Attend the Plan Listening to
Widespread shareholders who intend to attend the plan listening to both in individual or by way of proxy ought to guarantee they’re registered as a shareholder on the Euroclear Sweden AB’s share register snapshot as of Thursday, July 4, 2024. Shareholders planning to attend via a proxy should present a dated written authorization for his or her consultant and current the unique doc on the listening to.
Shareholders with shares held underneath a nominee’s identify should re-register these shares in their very own identify to look within the share register by the document date, July 4, 2024. This can be a short lived registration for voting functions, and shareholders ought to request this modification via their nominee properly earlier than the document date, in accordance with the nominee’s deadlines. The most recent that nominees can course of such adjustments for them to be acknowledged is Monday, July 8, 2024.
For shareholders whose shares are registered with Euronext Securities Copenhagen in Denmark, a short lived registration of the shares in their very own identify with Euroclear Sweden AB is critical to take part within the plan listening to. This request needs to be directed to Euronext Securities Copenhagen no later than 3:00 p.m. CEST on Friday, July 5, 2024. Shareholders can submit their registration kind by way of common mail to Nicolai Eigtveds Gade 8, DK-1402 Copenhagen, Denmark, by electronic mail at CPH-investor@euronext.com, or via the Euronext InvestorPortalen.
Report Date Announcement for Listed Business Hybrid Bonds
For operational functions, the eligibility to vote for holders of the Firm’s listed business hybrid bonds will probably be established primarily based on the circumstances on the document date, set for Friday, July 5, 2024. This dedication aligns with the Reorganization Plan’s necessities.
Replace on SAS’ Chapter 11 Circumstances within the U.S. and Firm Reorganization in Sweden
For detailed data on SAS’ voluntary Chapter 11 proceedings within the U.S. and SAS AB’s firm reorganization in Sweden, please go to the devoted restructuring web site. U.S. court docket filings and different paperwork pertaining to the Chapter 11 circumstances are accessible via an internet site managed by Kroll Restructuring Administration LLC. Paperwork associated to SAS AB’s reorganization proceedings in Sweden will be obtained from the Stockholm District Court docket or considered on an internet site administered by Ackordscentralen (AC-Gruppen AB).
Advisors Engaged within the Restructuring
Weil, Gotshal & Manges LLP is appearing as international authorized counsel, and Mannheimer Swartling Advokatbyrå AB is offering Swedish authorized companies to SAS. Seabury Securities LLC and Skandinaviska Enskilda Banken AB are serving as funding bankers. Moreover, Seabury Securities LLC can also be appearing because the restructuring advisor to SAS.
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