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How to Vote?

Please watch this short video tutorial to learn how to vote.

How to Vote?

Please watch this short video tutorial to learn how to vote.

Voting for Noteholders will be open till 5th of September 2024 (inclusive).

Currently, the Issuer's Net Debt/EBITDA Ratio for the for the previous 12 (twelve) months may not be higher than 2.5. In the equipment rental industry, the Net Debt/EBITDA Ratio is usually above 4. For example, for the Europe’s largest companies, Loxam No. 1 in Europe and Boel No. 4 in Europe, whose subsidiaries (Ramirent and Cramo) are the Group’s main competitors in the Baltics and Nordic countries, this ratio is 4.7 and 3.5. 

Voting for a change of NetDebt/EBITDA covenant

For the purpose of enabling Storent Holding to realize the favorable market conditions, make significant investments and further develop and seize the market potential, Clause 16.2 of the General Terms and Conditions shall be expressed as follows:

 

“16.2. Net Debt/EBITDA

The Issuer’s Net Debt/EBITDA Ratio for the for the previous 12 (twelve) months:

  1. until second Quarter of 2024 (inclusive), shall not be higher than 2.5;

  2. from third Quarter of 2024 to second quarter of 2025 (inclusive), shall not be higher than 4;

  3. as of third Quarter of 2025, shall not be higher than 3.5.

The Issuer’s Net Debt/EBITDA Ratio shall be calculated:

  1. as at the end of each Quarter determined on the basis of the Issuer’s consolidated monthly financial statements  for the previous 12 (twelve) months; and

  2. as at 31 December each year, as determined on the consolidated basis on the basis of each of the Issuer’s annual        financial reports.”

“Net Debt/EBITDA Ratio” means the ratio of interest-bearing liabilities (excluding Subordinated Debt) – (minus) cash to EBITDA of the respective measurement period.  

“EBITDA” means the net income of the measurement period before:

  1. any provision on account of taxation; 

  2. any interest, commission, discounts or other fees incurred or payable, received or receivable in respect of financial indebtedness; 

  3. any depreciation and amortisation of tangible and intangible assets; and 

  4. any re-valuation, disposal or writing off of assets.”

Hääletage nende muudatuste jaoks nõusoleku andmise poolt.

Noteholders benefit from voting

If the proposed amendments are approved, the Issuer agrees within 10 Business Days after publication of the Issuer’s notice to pay each Noteholder, who has voted “yes”, an amendment fee in the amount of 1% from the principal amount of the Notes held by the respective Noteholder.

Example: notes in value of 10 000 € = 100 € additional profit

Want to hear more about the financial results, the future plans and the voting process from companies’ management? See the recording of Investor webinar.

Storent Holding Webinar on H1 2024

  • In accordance with Clause 26.1(d) of the General Terms and Conditions only those who were appearing in Nasdaq CSD SE as the Noteholders by the end of the 5th (fifth) Business Day after publishing an announcement on instigation of the Written Procedure (i.e., 15 August 2024) or proxies authorised by such Noteholders, may exercise their voting rights in the Written Procedure.

  • Click Vote digitally to fill out an online form of follow the instructions shown to Vote manually.

  • No, all the coupon payments will be done according to the schedule.

  • If the proposed amendments are approved, the Issuer agrees within 10 Business Days after publication of the Issuer’s notice to pay each Noteholder, who has voted “yes”, an amendment fee in the amount of 1% from the principal amount of the Notes held by the respective Noteholder.

Frequently asked questions

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