Nordic Trustee ASA, on behalf of Funcom N.V., gives
notice of a bondholders meeting regarding the
convertible bond issue number ISIN NO 001 063043.7.
The bondholders meeting will be held on 19 September
2016 to vote for the following proposed amendments to
the bond agreement as amended from time to time (as
described in more detail in the attached summons
letter):
(i) Currently, the interest is agreed to be paid
quarterly in cash. The Issuer is proposing to accrue
the interest on the Interest Payment Dates, and that
the interest payment is due on the Maturity Date. It
is proposed the clause 8 of the Bond Agreement shall
be amended to read as follows:
8.1 Interest rate
The Issuer shall pay interest from, and including, 20
July 2016 to the Maturity Date at a fixed rate of 3.5
per cent per annum (the Fixed Rate) on the face
value of the Bonds.
8.2 Interest Payment Dates
The interest accrued from, and including, 20 July 2016
to the Maturity Date, shall be payable on the Maturity
Date.
8.3 Calculation of interest payments
(a) The relevant interest payable amount shall be
calculated based on a period from, and including, one
Interest Payment Date to, but excluding, the next
following applicable Interest Payment Date.
(b) The day count fraction in respect of the
calculation of the payable interest amount shall
be 30/360, which means that the number of days in
the calculation period in respect of which payment is
being made divided by 360 (the number of days to be
calculated on the basis of a year of 360 days with
twelve 30-days months (unless (i) the last day of the
calculation period is the 31st day of a month but the
first day of the calculation period is a day other
than the 30th or 31st day of a month, in which case
the month that includes that last day shall not be
considered to be shortened to a 30-day month, or (ii)
the last day of the calculation period is the last day
of the month of February, in which case the month of
February shall not be considered to be lengthened to a
30-day month)).
© The interest accrued from, and including, 20
July 2016 to the Maturity Date, shall accrue on each
Interest Payment Date together with previously accrued
and unpaid interest (together the Accrued Interest).
(d) The payable interest amount per Bond for a
relevant calculation period shall be calculated as
follows:
Interest Amount = (Face Value + Accrued Interest) x
Fixed Rate x Fixed Rate Day Count Fraction
(ii) In consequence of the above, it is proposed
the clause 12.2 © of the Bond Agreement shall be
amended to read as follows:
Interest accrued to the Conversion Date, shall be paid
to the Bondholders on the Conversion Date.
At the relevant Bondholders sole discretion, such
accrued interest shall be paid in:
(i) cash
Source Url: http://www.newsweb.no/index.jsp?messageId=408713
© OB
