Sunborn Finance Oyj - Other information disclosed according to the rules of the Exchange

Sunborn Finance Oyj - Company is engaged in constructive discussions with major bondholders

20.6.2024 15:50:54 EEST | Sunborn Finance Oyj | Other information disclosed according to the rules of the Exchange

Sunborn Finance Oyj (the "Company") acknowledges the Notice of Event of Default issued by Nordic Trustee Oy, the appointed bondholders' agent, concerning the repayment of up to EUR 50,000,000 in senior secured bonds (ISIN: FI4000292750) (the "Bonds"), which were due on 13 May 2024.

The majority of bondholders have entered into standstill agreements to explore the possibility of extending the Final Maturity Date or finding another solution. Consequently, the agent has refrained from taking any actions under the Terms and Conditions concerning the outstanding Event of Default, pending the outcome of these negotiations.

The Company is actively engaged in constructive negotiations with the bondholders' committee, representing the majority of bondholders. Strategic discussions are underway to achieve a satisfactory resolution within a reasonable timeframe, with concrete proposals already prepared and under consideration.

While there can be no assurance regarding the outcome of these negotiations, the discussions are positive, and the Company is optimistic that a suitable resolution will be reached soon. Subject to compliance with ongoing disclosure obligations under applicable laws and regulations, the Company does not intend to make further announcements regarding the discussions until the bondholders and the Company have further explored the proposals and decisions have been made.

For further information, please contact:

Hans Niemi, CEO

Telephone: Finland +358 followed by 2445 4514

Email: hans.niemi@sunborn.com

This information is information that Sunborn Finance Oyj 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, at 14:50 (CEST) on 20 June 2024.

About Sunborn Finance Oyj

Sunborn Finance is part of the Sunborn Group, which is 50 years old, privately owned group of companies based in Finland, with decades of experience in the hospitality sector. Sunborn's focus is on the development of luxury spa and yacht hotels, restaurants and other high-quality property.

Sunborn is present at the moment in Finland, Denmark, United Kingdom and Gibraltar. Operations vary from spa resorts and residential communities to hotels and yacht hotels, restaurants, and catering operations in the best locations.

www.sunborn.com

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