As stated in the Announcement no. 83 of 13 January 2011, the Company has previously received a standstill letter from the senior banks, wherein the senior banks state that they shall restrain themselves from taking any action in relation to the loan-to-value breach until 25 February 2011.
The Company has tried, but failed, to obtain an extension of the standstill period. The loan has not, however, been terminated, and the Company remains in dialogue with the senior banks in regard to finding a solution to the loan-to-value breach. It is the expectation of the Board that a solution remains within reach and that this solution can be presented for approval at a later bondholder 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.
