September 5, 2019 / 9:30 AM / 12 days ago

BRIEF-Future Gaming Group Updates On Discussions With Bondholders

Sept 5 (Reuters) - Future Gaming Group International AB (FGGI):

* SAID ON WEDNESDAY NORDIC TRUSTEE & AGENCY AB, A COMPANY ACTING AS AN AGENT FOR HOLDERS OF FGGI’S BOND, CONFIRMED IT WOULD MAKE FUNDS AVAILABLE TO FGGI TO PAY ADDITIONAL PURCHASE PRICES AND THAT THE REPAYMENT AMOUNT THAT IS TO BE PAID 18 MONTHS AFTER THE BOND’S ISSUANCE BE REDUCED BY THE CORRESPONDING AMOUNT

* AS A CONDITION FOR THE PAYMENTS, AMONG OTHER THINGS, FGGI MUST ENTER INTO A FINAL AGREEMENT WITH RELEVANT SELLERS BY SEPTEMBER 13

* THE AGENT’S APPROVAL OF THE PAYMENT HAS BEEN ACCEPTED BY A CREDITORS’ COMMITTEE CONSISTING OF SOME MAJOR BONDHOLDERS REPRESENTING ABOUT 62% OF OUTSTANDING BOND LOANS

* FGGI ENTERED INTO DISCUSSIONS WITH BONDHOLDERS IN MAY; DISCUSSIONS WITH BONDHOLDERS REGARD CONSEQUENCES OF BREACH OF TERMS OF BOND LOAN AGREEMENT ENTERED INTO IN CONNECTION WITH ACQUISITION OF VIISTEK MEDIA [bit.ly/2kvUQjt ]

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