Shareholder loan granted to AINMT Scandinavia Holdings AS
Oslo, 8 August 2016 - Following the recent share issue in AINMT AS and AINMT Holdings AB (see AINMT AS announcements dated 20 June, 22 June and 1 July), AINMT Holdings AB has granted a subordinated shareholder loan to AINMT Scandinavia Holdings AS.
The purpose is to fund higher customer acquisition in Norway than previously anticipated and to fund higher investments in sites and IT-systems in Norway in order to gain more on-net traffic and enable disruptive offerings. The shareholder loan has a cap of NOK 450 million with an initial disbursement of NOK 200 million and runs with 9.75% interest. The loan is subordinated to AINMT Scandinavia Holdings AS' high yield bond (ISIN: NO0010705601). This means, inter alia, that during the term of this bond loan the shareholder loan is non-amortising and no interest is payable (PIK).
AINMT AS owns approximately 28.7% of the shares in AINMT Holdings AB, disregarding any dilution upon exercise of warrants issued by AINMT Holdings AB.