Legres AB (publ) (“Legres” and together with its subsidiaries, the “Group”) today announces that it has initiated written procedures (the “Written Procedures”) to seek bondholder approval for certain amendments to the terms and conditions of its senior bonds (ISIN SE0020388700) (the “Senior Bonds” and “Senior Terms and Conditions”) and junior bonds (ISIN SE0018040958) (the “Junior Bonds” and “Junior Terms and Conditions”). The proposed amendments are intended to permit the incurrence of new contemplated super senior debt for working capital purposes and to use the proceeds to pay invoices to certain key suppliers.
Capitalised terms used in this press release have the meanings given to them in the Senior Terms and Conditions and the Junior Terms and Conditions, as applicable, unless otherwise defined herein.
Background
On 27 May 2025, Legres announced the initiation of a strategic review process, including a review of potential asset disposals, aimed at establishing a sustainable long-term capital structure for the Group.
Due to current liquidity constraints, the Group has incurred overdue amounts payable to certain key suppliers. Legres is therefore seeking to reduce such overdue supplier indebtedness in order to support continued operations.
Written Procedures
Legres has initiated the Written Procedures to request bondholder approval to amend the Senior Terms and Conditions and the Junior Terms and Conditions to allow the Group to incur a contemplated super senior bridge working capital financing (the “Super Senior Debt”) in accordance with the intercreditor term sheet appended to each notice of Written Procedure.
The Super Senior Debt is contemplated to be raised as super senior bonds in an initial nominal amount of approximately SEK 30,000,000. The net proceeds are intended to be used to pay overdue supplier indebtedness and pay transaction costs.
Under the intercreditor agreement, the Super Senior Debt shall rank senior to the Senior Bonds and the Junior Bonds, and no payments may be made under the Senior Bonds or the Junior Bonds until the Super Senior Debt has been repaid in full. The Junior Bonds shall continue to rank junior to the Senior Bonds.
Legres also proposes to defer the interest payment due under the Senior Bonds on 9 January 2026 so that it instead becomes payable on the final maturity date (as amended from time to time) under the Senior Terms and Conditions.
The proposed amendments can be found in each notice of Written Procedure, which is available on the websites of Legres (www.sergel.com) and the Agent (www.nordictrustee.com and www.stamdata.com).
To be eligible to vote in each Written Procedure, a Bondholder must on 19 January 2026 be registered in the debt register (Sw. skuldbok) for the Senior Bonds or the Junior Bonds (as applicable) as a direct registered owner (Sw. direktregistrerad ägare) or as an authorised nominee (Sw. förvaltare) with respect to one or several Senior Bonds or Junior Bonds (as applicable). The Agent must receive a duly completed voting form no later than 15.00 (CET) on 2 February 2026. Each written procedure may be completed in advance if a sufficient quorum and majority of consents to the request has been received before the voting deadline.
Legres expects to announce the result of the Written Procedures no later than 2 February 2026. Following such announcement, a notice of the outcome of the Written Procedures will also be published on the websites of Legres and of the Agent.
Please note that although Legres intends to implement the amendments as proposed pursuant to the Written Procedures (including incurring Super Senior Debt), it has no obligation to do so even if the proposal is approved in the Written Procedures.
For further details regarding the Written Procedures, please refer to each notice of Written Procedure.
Contact person:
Klaus Reimer, CEO
+45 40 99 55 25
klaus.reimer@sergel.com
This information is information that Legres AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 14 January 2026 10:00 CET.