As outlined in notice number 67 on 7th July 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 8th September 2010 will not take action with respect to the loan-to-value breach. The Company has now from the agent of the Senior Loan received an extension until 13th October 2010. During this period the Senior Loan cannot be terminated due to non-compliance of the loan-to-value condition. The Company is still in a positive ongoing dialogue with the Senior Bank with respect to finding a solution to the loan-to-value breach. As outlined in notice number 67 the asset manager has prepared a strategy for deleverage of the portfolio which is expected to be part of the ongoing negotiations towards finding a solution. The agent has previously informed that they are also investigating alternatives. The Board of Directors still expects that a model can be found and presented for approval on a bondholders meeting. 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