TECHNOPOLIS PLC INVESTOR NEWS October 12, 2018 at 5:30 p.m. EEST
Technopolis Has Agreed on Six-Month Stand-Still Period in Respect of Its Existing Financing Arrangements
Most of Technopolis’ and some of its subsidiaries’ existing financing agreements include change of control clauses. If triggered, these could result in, among others, a mandatory prepayment obligation or entitle the relevant lenders to accelerate outstanding loans, cancel commitments or terminate the relevant financing arrangements.
Kildare Nordic Acquisitions S.à r.l announced today that it will complete the public tender offer for all the issued and outstanding shares in Technopolis. As a result, the change of control clauses, referred to above, would be triggered upon the completion of the tender offer.
Technopolis has received consent from all its commercial banks for a six-month stand-still period and waivers for the duration of this period, in respect of any such rights the relevant lenders may have in a change of control event taking place upon the completion of Kildare Nordic Acquisitions S.à r.l's tender offer.
The received consent and waivers impose certain restrictions on, among others, dividend declaration and distribution as well as redemption or repurchase of any of Technopolis share capital, during the stand-still period.
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Technopolis is a shared workspace expert. We provide efficient and flexible offices, coworking spaces and everything that goes with them. Our services run from designing the workspace to reception, meeting solutions, restaurants and cleaning. We are obsessed with customer satisfaction and value creation. Our 17 campuses host 1,600 companies with 50,000 employees in six countries within the Nordic and Baltic Sea region. Technopolis Plc (TPS1V) is listed on Nasdaq Helsinki. www.technopolis.fi/en