Landic Property Bonds I A/S
Postponement of redemption of DKK 30 million bond loan
Keops EjendomsObligationer I A/S / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Published to the OMX Nordic Exchange via Company News Service on 1 January 2009. Postponement of redemption of DKK 30 million bond series, ISIN code DK0003444941. The company is to notify that the redemption of the company's nominal DKK 30 million issued bonds, ISIN code DK0003444941, unfortunately, will not happen by 01.01.2009 settlement day, as originally planned. The reason for the failure to settle is that there is a need for short-term interim financing to fund the redemption of the above bond series, as the company does not have sufficient cash to handle the settlement in full. Despite strenuous efforts to raise the short-term interim financing, it has not been possible for Landic group to raise this in the current financial market, which is strongly marked by the current banking crisis. A review of the original bond prospectus shows the need for interim financing, as cash at year-end 2008 in the budget is not sufficient to implement the settlement without a short-term interim financing. It has in the initial budget been a prerequisite to obtain such interim financing, which is deemed not to be possible in the current market. The company however expects to be able to redeem the bonds in the course of 2009. However, this requires an acceptance from the senior lender and which is currently being worked on. The company will revert later with information on repayment, etc., when there is more substantial and secure information thereon. The company will also discuss the situation with the Bond Bank in order to decide what actions the company is committed to including a call for bond owners' meeting. For the sake of good order please note that interest payments to the bond owner due as per 1 January 2009 (the annual interest payment) will take place as originally planned in all 3 Bond series. Please address questions relating to this Notice to Michael Sheikh, Chairman, on phone +45 3378 4000. News Source: NASDAQ OMX 01.01.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Keops EjendomsObligationer I A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0003444784 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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