Polygon AB (publ) announces successful solicitation of consents to a waiver under the terms and conditions of the notes

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

Polygon AB (publ) reg. no 556816-5855 (the "Company") today announces the successful completion of its consent solicitation from the holders of the Company's senior secured fixed rate notes due 2023 with a current outstanding total nominal amount of EUR 210,000,000 (ISIN SE0010830950) (the "Notes"), regarding a waiver under the terms and conditions of the Notes (the "Proposal"). The Proposal became effective immediately as of 21 November 2019.

Unless otherwise defined herein, terms used in the consent solicitation memorandum dated 6 November 2019 (the "Consent Solicitation Memorandum") shall have the same meaning in this announcement.

In connection with the consent solicitation, a Noteholders' Meeting (the "Meeting") was held on 21 November 2019 at 09:00 (CET) in respect of the Notes. In the Meeting a quorum of 99.33% and majority of 89.98% were achieved and the Proposal was passed.

The Company will pay an Early Bird Consent Fee of EUR 200 for each EUR 100,000 in nominal amount of Notes voted for to any Direct Registered Owner and Nominee that has submitted (and not revoked) a valid Consent Voting Instruction in favour of the Proposal before the Early Bird Consent Fee Deadline and a Consent Fee of EUR 300 per Note to any person registered as a Noteholder on 20 November 2019 at 17:00 CET. Settlement of the Early Bird Consent Fee and the Consent Fee will occur no later than 27 November 2019 and in accordance with the terms set out in the Consent Solicitation Memorandum. The details for the consent solicitation are fully described in the Consent Solicitation Memorandum.

To receive copies of the Consent Solicitation Memorandum or for questions relating to the consent solicitation, please contact the Solicitation Agent (contact details are set out below).

Solicitation Agent:

Nordea Bank Abp: +45-61612996
nordealiabilitymanagement@nordea.com

For further information, please contact:
Martin Hamner, Chief Financial Officer
+46 (0)70 607 85 79
martin.hamner@polygongroup.com

The information was submitted for publication, through the agency of the contact person set out above, at 10.30 CET on 21 November 2019.