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Question raised at the EGM with respect to press releases issued on 19 September 2018 and 26 September 2018 regarding consent from note holders


With reference to a question raised by the Swedish Shareholders' Association at the extraordinary general meeting of Radisson Hospitality AB (publ) (the “Company”) held on 10 December 2018 in Stockholm, the following clarification is made to the press releases issued by the Company on 19 September 2018 and 26 September 2018, respectively:


By way of background, the Company was on 9 August 2018 informed, through a press release, that agreements involving a majority stake in the Company had been entered into between the Company’s former majority shareholder (HNA) and the Company’s existing majority shareholder (the Jin Jiang led consortium).


In light of the information regarding the upcoming change of control in the Company, the Company initiated work to identify, among other things, what effects such change of control would have on the Company’s agreements. That included to review the agreements governing the senior secured notes issued by the Company’s wholly-owned subsidiary Radisson Hotel Holdings AB (publ) and the Company’s financing situation in general. Following that review, a so-called consent solicitation process was initiated to ask the note holders to waive the Company’s obligation under the terms of the notes to make a change of control offer to the note holders should a change of control take place in the Company.


The purpose of the consent solicitation was to, by acting proactively, in the best possible way handle the Company’s financing situation also following a change of control in the Company. Prior to the decision to initiate the consent solicitation process also other alternatives were considered. Through the successful consent solicitation, the Company avoided the obligation to make a change of control offer to the note holders which would have resulted in additional costs for the Company.


For additional information, please contact:


Deputy President & CFO