The Private Placement of Secured Notes of AS PRFoods and the Results of the Placement

The Private Placement of Secured Notes of AS PRFoods and the Results of the Placement

THIS NOTICE IS NOT INTENDED FOR PUBLICATION, ALLOCATION OR TRANSMISSION, IN PART OR WHOLLY, DIRECTLY OR INDIRECT, IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, OR WHERE THE DISCLOSURE OR TRANSMISSION OF THIS INFORMATION IS NOT ALLOWED.

By a company announcement dated 19 December 2020, AS PRFoods (hereinafter "PRFoods") informed investors that it was planning an issue of notes. PRFoods hereby notifies that the supervisory board of PRFoods has approved the principal terms and conditions of the note issue and has authorised the management board to issue up to 100,000 secured notes, with the maximum aggregate nominal value of up to EUR 10,000,000, nominal value of EUR 100 per note, interest rate of 6.25% per annum and maturity date on 22 January 2025 (hereinafter the “Notes”). Other than as brought out above, the material terms and conditions of the Notes are the same as brought out in the company announcement dated 19 December 2020. PRFoods has also received AS SEB Pank’s consent to issue the Notes.

PRFoods further informs that PRFoods has decided to issue the Notes in several tranches and to issue the first tranche of Notes by way of private placement (hereinafter the “Private Placement”). The subscription period for the Private Placement ended on 20 January 2020 and in the Private Placement, PRFoods offered to investors up to 85,000 Notes, with the maximum aggregate nominal value of up to EUR 8,500,000 and offer price of EUR 98.95 per Note. In the Private Placement, investors subscribed for approximately 92,630 Notes, with the aggregate nominal value of approximately EUR 9,263,000, i.e. for approximately 109% of the maximum volume of the Private Placement. Due to the strong interest of the investors for the Notes and the resulting oversubscription, PRFoods decided to increase the volume of the Private Placement to 91,096 Notes and to allocate to investors a total of 91,096 Notes, with the aggregate nominal value of EUR 9,109,600. As the subscription undertakings submitted by investors also exceeded the increased volume of the Private Placement, the subscription undertakings submitted by investors were satisfied in accordance with the allocation approved by the management board of PRFoods, and Notes exceeding the maximum volume of the Private Placement were not allocated.