Oslo/Rhoon, 3 July 2020 – Reference is made to the announcements on 19 June and 2 July 2020 regarding MPC Container Ships Invest B.V. (the "Issuer"), a wholly-owned subsidiary of MPC Container Ships ASA ("MPCC"), summons to bondholders' meeting for the USD 200,000,000 senior secured bond issue MPCBV01 - ISIN NO 0010805872 (the "Bond")
The summoned bondholders' meeting was held today, and of the bondholders represented at the meeting, at which a quorum was present, the proposed resolution received 77.04% of the votes. Approval of the proposal set out in the summons required 2/3 majority.
Please see the attached notice from Nordic Trustee AS on the results from the bondholders' meeting.
CEO Constantin Baack comments in relation to the announcement: "The results of today’s bondholders’ meeting confirm the strong support shown by the bondholders for the bond amendments set forth by MPC Container Ships Invest and the recapitalisation of MPC Container Ships and its subsidiaries. The bond amendments are an integral part of safeguarding values for our stakeholders and ensuring operational stability during and following the COVID-19 pandemic for MPC Container Ships, our employees and crew serving on board our vessels.
The proceeding step in MPC Container Ships’ recapitalisation plan is to execute an equity private placement. To this end, MPC Container Ships has summoned an extraordinary general meeting to be held on Monday 13 July 2020 to address an increase in the company’s share capital, necessary as part of the above resolution with bondholders and to position MPC Container Ships for the post-COVID recovery.”
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About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. The Company is registered and has its business office in Oslo, Norway.
About MPC Container Ships Invest B.V.:
The Company was formed in September 2017 as a wholly-owned subsidiary of MPC Container Ships ASA (Oslo Stock Exchange ticker code "MPCC"). The Company’s main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. On 14 June 2018, The Company listed its USD 200 million senior secured bond with ISIN NO0010805872 on the Oslo Stock Exchange (ticker code "MPCBV").
The Company is registered and has its business office in Rhoon, the Netherlands. For more information, please see our webpage: www.mpc-container.com.