| Put option |
1 |
1'968'004 |
On 27 August 2021, Alpine Holding Korlätolt Felelösségü Tarsasãg ("Alpine Holding"), has entered into a secured financing with Alpine 1 SCSp, Luxembourg, which in turn owns the units in Alpine 2 SCSp. The shares in Ultima Capital SA owned by Alpine 2 SCSp serve as collateral for the debt financing (secured debt). Under the secured debt financing agreement, Alpine 1 SCSp issues various tranches of notes with maturity date 30 December 2025 ("Notes"). At the election of Alpine 1 SCSp, repayment of the Notes can be made either in cash or by transferring the units in Alpine 2 SCSp ("Repayment in Kind") at the maturity of the Notes. In the case of such Repayment in Kind, Alpine 2 SCSp would be required to hold 1,968,004 shares in Ultima Capital SA (33.30%) as well as certain other assets. In case of a Repayment in Kind, Alpine Holding and Global Debt Strategy S.à r. I. would therefore hold indirectly via Alpine 2 SCSp 1'968004 shares in Ultima Capital SA. |
