On 15 January 2018, a notice of written procedure was sent to the bondholders, in which West Atlantic AB (publ) (the “Company”) requested that bondholders should approve to waive and amend certain provisions under the terms and conditions (and the other finance document, as applicable) of its outstanding bond loan, as further described in the notice of written procedure (the “Notice”). The voting period expired on 1 February 2018.
A sufficient number of votes was obtained in order to form a quorum and a requisite majority of the voting bondholders voted in favour of the requests.
The waivers and amendments will become effective as soon as the shareholder equity injection of MSEK 25 has been provided. Additional information about the equity injection and the effective date for the waivers and amendments will be communicated, when finalised, in a separate press release.
The Notice is available at the Company’s website (www.westatlantic.eu).
For further information, please contact:
Magnus Dahlberg, CFO
Telephone: +46 (0) 10 452 95 49
This information is information that West Atlantic AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 2018-02-02, 16.15 CET.
About West Atlantic
The West Atlantic Group is one of the market leading providers of dedicated airfreight services to European NMO’s and airfreight capacity to Global Integrators and Freight Forwarders. The Group has a well-established geographic network and operates an all-cargo fleet of more than 50 aircraft comprised of B767, B737, BAE ATP and CRJ-200. West Atlantic was founded in 1962, employs 477 staff is headquartered in Gothenburg, Sweden and has two operating airlines, with one AOC in the UK and one in Sweden. For FY 2016, West Atlantic reported revenues of MSEK 1,320 and EBITDA of MSEK 128.
West Atlantic AB (publ) Org. no: 556503-6083, Box 5433, SE-402 29 Gothenburg, Sweden