The Board of Glitnir HoldCo ehf. approved the Consolidated Financial Statements of Glitnir HoldCo ehf. at a board meeting on 27 March 2017. The Financial Statements can be found on Glitnir´s secure website.
Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 314,058,317)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
This notice is made to holders of the Notes (hereafter, the “Noteholders”) by way of information and is published in accordance with Condition 21 of the Terms and Conditions of the Notes (the “Conditions”). Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
The Issuer effected an optional redemption of the Notes in part on 9 March 2017 in accordance with Condition 6.3(A)(ii). The aggregate principal amount of each Noteholder’s interest in the Notes was reduced accordingly as a result of such redemption. Noteholders who wish to confirm the principal amount outstanding in respect of their holding of Notes can do so through the secured website.
Reykjavík, 14 March 2017
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 330,630,939)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
Further to the announcement on 15 February 2017, the Issuer hereby announces that the EUR Equivalent Redemption Funds (EERF) to be distributed on 9 March 2017 will be increased by EUR 2,014,222. The increased amount derives from realizations of other assets.
The amount which will be used to redeem the Notes on 9 March 2017 is EUR 16,572,622 (of which EUR 10,223,406 comes from the currency conversion). The amount derives from realisations of the following assets:
Restricted cash: EUR 4,335,000, USD 2,801,800, GBP 1,478,780 and NOK 21,208,100.
Other assets: EUR 2,014,216, USD 1,960,200 and GBP 1,371,970.
Reykjavik, 7 March 2017
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
Due to the Optional Redemption Date on 9 March 2017 Noteholders are hereby informed that they may not require transfers from 22 February 2017 until, and including, 9 March 2017. This halt of transfers is necessary for the Company to be able to make payments to registered Noteholders on the Optional Redemption Date. This halt of transfers is in accordance with Condition 4.1 (b) of the terms and conditions of the Amortising Zero-Coupon Convertible Notes of Glitnir HoldCo ehf. (the “Conditions”).
Further information about the Optional Redemption can be found here.
Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 330,630,939)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
This notice is made to holders of the Notes (hereafter, the “Noteholders”) pursuant to Condition 6.3 of the Terms and Conditions of the Notes (the “Conditions”) and is published in accordance with Condition 21.
Capitalized terms used but not defined in this notice shall have the meanings given to them in the Conditions.
The Issuer hereby notifies the Noteholders that it will effect an optional redemption by redeeming the Notes (in part) in cash on 9 March 2017. The Issuer is providing the following information pursuant to Condition 6.3(B) in connection with such redemption:
(i) The estimated Euro Equivalent Redemption Funds (EERF) to be distributed is EUR 14,446,450. The EERF derive from realizations of the following assets:
a. Restricted cash: EUR 4,335,000, USD 2,801,800, GBP 1,478,780 and NOK 21,208,100. The restricted cash became available due to a settlement Glitnir has reached regarding two disputed claims that were lodged as priority claims. As part of the restricted cash was in ISK, (ISK 964.7 million) that amount will be paid to the government as a Stability Contribution but the remainder paid to Glitnir´s noteholders.
b. Other assets: USD 1,960,200 and GBP 1,371,970 of the EERF.
(ii) The breakdown of the currency of the amounts included in the calculation of such estimate are as follows:
a. EUR 4,335,000,
b. USD 4,762,000,
c. GBP 2,850,750 and
d. NOK 21,208,100
(iii) The Currency Conversion Date is 3 March 2017.
The Issuer will provide a further notification on 7 March 2017 (which will be the Optional Cash Redemption Second Notification Date). This will confirm the final amount of Euro Equivalent Available Optional Redemption Funds which will be used to redeem the Notes in cash, the aggregate principal amount of the Notes that will be outstanding immediately following the Optional Redemption Date of 9 March 2017 and the other information required under Condition 6.3(C).
Reykjavík, 15 February 2017
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 330,630,939)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
This notice is made to holders of the Notes (hereafter, the “Noteholders”) by way of information and is published in accordance with Condition 21 of the Terms and Conditions of the Notes (the “Conditions”). Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
The Issuer effected an optional redemption of the Notes in part on 19 January 2017 in accordance with Condition 6.3(A)(ii). The aggregate principal amount of each Noteholder’s interest in the Notes was reduced accordingly as a result of such redemption. Noteholders who wish to confirm the principal amount outstanding in respect of their holding of Notes can do so through the secured website.
Reykjavík, 19 January 2017
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
Further to the announcement on 21 December 2016, the Issuer hereby announces that the EUR Equivalent Redemption Funds (EERF) to be distributed on 19 January 2017 will be increased by EUR 37,976,391. The increased amount derive from realizations of loans to customers (GBP 5,079,000 and NOK 290,411,659).
The amount which will be used to redeem the Notes on the 19 January 2017 is EUR 98,831,785.
The amount for distribution from the currency conversion is EUR 39,091,785.
The amounts that forms part of the EERF of EUR 98,831,785 derive from realisations of the following assets:
Restricted cash/indemnity fund: EUR 59,740,000
Loans to customers: GBP 5,079,000 and NOK 300,503,159.
Reykjavik, 17 January 2017
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
Due to the Optional Redemption Date on 19 January 2017 Noteholders are hereby informed that they may not require transfers from 4 January 2017 until, and including, 19 January 2017. This halt of transfers is necessary for the Company to be able to make payments to registered Noteholders on the Optional Redemption Date. This halt of transfers is in accordance with Condition 4.1 (b) of the terms and conditions of the Amortising Zero-Coupon Convertible Notes of Glitnir HoldCo ehf. (the “Conditions”).
Further information about the Optional Redemption can be found here.
Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
Glitnir Holdco ehf. (the “Issuer”)
EUR 1,585,774,666 (Remaining balance EUR 429,462,724)
Amortising Zero-Coupon Convertible Notes due 2030 (the “Notes”)
This notice is made to holders of the Notes (hereafter, the “Noteholders”) pursuant to Condition 6.3 of the Terms and Conditions of the Notes (the “Conditions”) and is published in accordance with Condition 21. Capitalised terms used but not defined in this notice shall have the meanings given to them in the Conditions.
The Issuer hereby notifies the Noteholders that it will effect an optional redemption by redeeming the Notes (in part) in cash on 19 January 2017. The Issuer is providing the following information pursuant to Condition 6.3(B) in connection with such redemption:
(i) The Currency Conversion Date is 13 January 2017.
(ii) The estimated Euro Equivalent Redemption Funds (EERF) to be distributed is EUR 60,856,000.
The breakdown by currency of the amounts included in the calculation of such estimate are as follows:
EUR 59,740,000 and
NOK 10,091,500
(iii) The Euro Equivalent Redemption Funds will derive from realizations of the following assets:
The Indemnity Fund; EUR 59,740,000,
Loans to customers: NOK 10,091,500 of the EERF.
The Issuer will provide a further notification on 17 January 2017 (which will be the Optional Cash Redemption Second Notification Date). This will confirm the final amount of Euro Equivalent
Available Optional Redemption Funds which will be used to redeem the Notes in cash, the aggregate principal amount of the Notes that will be outstanding immediately following the Optional Redemption Date of 19 January 2017 and the other information required under Condition 6.3(C).
Reykjavík, 21 December 2016
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer
At the Extraordinary General Meeting, held at Hilton Reykjavík Nordica, Suðurlandsbraut 2, Reykjavík, on 19 December 2016 at 1:00 pm, the following proposal set out in the notice of the meeting was duly passed by the majorities set out below:
1. Vote on a resolution regarding a settlement with the former Winding-up Board of Glitnir HoldCo ehf. in relation to the Indemnity Fund that was established in September 2015:
The meeting was attended by creditors representing 67,32% of Glitnir´s share capital.
Further information about the meeting can be found in the meeting minutes that have been published on the secured website.
Annual General Meeting, 26 April 2017 at 2pm