Kefren Properties IX AB
Kefren Properties IX AB, 556691-4031 (”Company”) – Extension of stand-still period

Kefren Properties IX AB / 

08.09.2010 14:16

Veröffentlichung einer Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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As outlined in notice number 67 on 7th July 2010 to the OMX Nordic Exchange
Copenhagen, the Company has previously received a stand-still letter from the
Senior Bank, where the Senior Bank states that they until the 8th September
2010 will not take action with respect to the loan-to-value breach. 

The Company has now from the agent of the Senior Loan received an extension
until 13th October 2010. During this period the Senior Loan cannot be
terminated due to non-compliance of the loan-to-value condition. 

The Company is still in a positive ongoing dialogue with the Senior Bank with
respect to finding a solution to the loan-to-value breach. As outlined in
notice number 67 the asset manager has prepared a strategy for deleverage of
the portfolio which is expected to be part of the ongoing negotiations towards
finding a solution. The agent has previously informed that they are also
investigating alternatives. 

The Board of Directors still expects that a model can be found and presented
for approval on a bondholders meeting. 
 


The Board of Directors


Please address questions relating to this Notice to Chairman Ole Vagner on
telephone +45 40254113 or via e-mail ole@vagner.dk. 

Further information about Kefren Properties IX AB is available on the Company's
website, www.kefren.se. 

News Source: NASDAQ OMX



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Language:     English
Company:      Kefren Properties IX AB
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0030039300
WKN:          
 
End of Announcement                             DGAP News-Service
 
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