Ice Group ASA: Deferment of spectrum payments

Reference is made to the release published 18 May 2020 regarding a possible deferment of planned spectrum payments. On 4 June 2020 the proposed deferments were formally approved by the EFTA Surveillance Authority (ESA) with the following conditions:

  • The payment of NOK 303 million from last year's spectrum auction of 700 MHz and 2.100 MHz will be deferred from 1 November 2021 until 1 November 2025.
  • The spectrum charges due to be paid 1 February 2021 and 1 February 2022, will be deferred until 1 February 2025
  • Ice Group commits to investing NOK 259 million in telecommunications infrastructure in the years 2020-2022

In total this will have a positive liquidity effect for Ice Group of approximately NOK 550 million.

The Ministry of Local Government and Modernisation has not made a final decision regarding the proposed deferments.

Disclaimer

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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About Ice Group ASA

Ice Group is a telecommunications company with nationwide networks in Norway and Denmark. In Norway, the company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers. Ice Group also offers mobile broadband, m2m and IoT services in Denmark through its own network.

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