Lassila & Tikanoja announces approval by the required majority of noteholders in the written procedure for its EUR 75 million sustainability-linked notes

Core Viewpoint - Lassila & Tikanoja has successfully obtained the required majority approval from noteholders for its EUR 75 million sustainability-linked notes, facilitating a partial demerger of its Circular Economy business area into a new independent company [2][6]. Group 1: Proposal and Approval - The written procedure for the EUR 75 million sustainability-linked notes, which have a fixed annual interest rate of 3.375%, was initiated to solicit consents for amendments related to the demerger [2]. - The Proposal received unanimous support, with 100% of the votes in favor, representing 99% of the outstanding notes [2]. Group 2: Financial Terms and Conditions - A consent fee of 0.20% will be paid to each noteholder who voted in favor or abstained, calculated on the principal amount held [3]. - An additional early bird consent fee of 0.10% will be awarded to those who voted in favor by a specified deadline [3]. - The completion of the demerger is expected to be registered by 31 December 2025, with the consent fees to be paid shortly thereafter [3]. Group 3: Implications of the Demerger - Following the demerger, all obligations and liabilities related to the notes will be transferred to the new Receiving Company, which will become the new issuer of the notes [4]. - Adjustments to the sustainability-linked bond framework will be implemented as a result of the demerger [4]. Group 4: Company Overview - Lassila & Tikanoja is focused on implementing circular economy practices, aiming to enhance the use of raw materials and energy while creating value for customers and shareholders [7]. - The company operates in Finland and Sweden, employing approximately 7,400 people, with net sales of EUR 770.7 million in 2024 [7].