On July 25, 2024, the Company announced that it, for practical reasons, had agreed with Intertrust (Sweden) AB (“Intertrust”), in its capacity as agent under the Company’s listed commercial hybrid bonds, to postpone the record date on which holders of the commercial hybrid bonds must be holders of such bonds to be entitled to receive distributions under the Reorganization Plan. The Company and Intertrust have agreed that the record date shall occur as soon as possible after the last day of trading of the commercial hybrid bonds on Nasdaq Stockholm, which is expected to occur on August 13, 2024, subject to the Stockholm District Court’s decision to approve the Reorganization Plan having entered into legal force by that date. For technical reasons, the record date will occur two business days after the last day of trading, i.e. on August 15, 2024 assuming that the last day of trading occurs on August 13, 2024. After the record date, the instrument will be blocked for settlement in Euroclear Sweden’s system, meaning that it will not be possible to transfer ownership of commercial hybrid bonds after such date. SAS intends to announce on August 12, 2024 whether the conditions for the record date to occur on August 15, 2024 are satisfied.
The new record date will not impact the overall timeline for SAS’ emergence from its restructuring proceedings.
Tags: SAS
