As outlined in notice number 59 on 17th March 2010 to the OMX Nordic Exchange Copenhagen, the Company has previously received a stand-still letter from the Senior Bank, where the Senior Bank states that they until the 28th April 2010 will not take action with respect to the loan-to-value breach. It was expected that the Company prior to 28th April 2010 would have been able to call a bond holders meeting for the purpose of presenting a specific restructuring proposal of the debt of the Company. However, the negotiations are taking longer than expected and a final proposal is not yet in place. The Company is still in a positive ongoing dialogue with the Senior Bank and the Company has requested, and received, an extension of the stand-still period until 26th May 2010. During this period the senior loan cannot be terminated due to non-compliance of the loan-to-value condition. The Board of Directors Please address questions relating to this Notice to Chairman Ole Vagner on telephone +45 40254113 or via e-mail ole@vagner.dk. Further information about Kefren Properties IX AB is available on the Company's website, www.kefren.se.
Kefren Properties IX AB, 556691-4031 (”Company”) - Extension of stand-still period
| Quelle: Kefren Properties IX AB