Baltic Horizon Fund applied for the consent of the bondholders, by way of a written procedure announced on 21 June 2024, to waive the undertaking set out in Clause 13.13 of the terms and conditions of the bonds and to provide consent for Baltic Horizon Fund to create a second-ranking mortgage over the assets of BH Meraki UAB to secure the external financing related to Baltic Horizon Fund’s EUR 42 million 5-year floating rate bonds maturing in 2028 (ISIN EE3300003235, the Bonds).
Bondholders who were entered in the registry of bond-holders maintained by Nasdaq CSD SE on 20 June 2024 were entitled to vote in the written procedure (the Holders). A notice by Triniti Collateral Agent IX OÜ acting as the agent for Holders was sent to the Holders on 21 June 2024. Holders with an aggregate nominal value of EUR 29,999,999.40 of the Bonds participated in the written procedure, representing 100% of the aggregate nominal value of all Bonds. Therefore, the quorum for adopting the decision by way of written procedure was reached.
The Investors voted unanimously in favor of a resolution to waive the undertaking set out in Clause 13.13 of the terms and conditions of the Bonds and to consent to the creation of a second mortgage by Baltic Horizon Fund on the assets of BH Meraki UAB to secure external financing.
Therefore, the required majority for adopting a decision by way of written procedure was reached and the decisions were adopted by the Holders.
