DGAP-Adhoc: Swedish ATP Management AB (publ): Disclosure of inside information according to Article 17 of the EU Market Abuse Regulation No 596/2014

DGAP-Ad-hoc: Swedish ATP Management AB (publ) / Key word(s): Miscellaneous 
Swedish ATP Management AB (publ): Disclosure of inside information according 
to Article 17 of the EU Market Abuse Regulation No 596/2014 2020-07-13 
 
13-Jul-2020 / 17:30 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*Disclosure of inside information according to Article 17 of the EU Market 
Abuse Regulation No 596/2014 2020-07-13* 
 
*PRESS RELEASE* 
 
Swedish ATP Management AB (publ) (the "company") has, by its ultimate 
owners, been informed (i) that the bondholder committee, LUSAT AIR S.L. 
(Spain) ("LUSAT") and the minority shareholders of West Atlantic AB have 
entered into the formal agreement regarding the previously announced 
transaction with respect to _inter alia_ the sale of the company and a write 
down and repayment of its bonds and (ii) that the Bonds shall continue to be 
listed on the Frankfurt Open Market 
 
Reference is made to the company's SEK 517,178,250 senior secured callable 
fixed rate bonds 2019/2022 with ISIN SE0012930089 (the "Bond") which are 
listed on the Frankfurt Open Market. 
 
As communicated in the press release made on 16 June 2020, the owners of the 
company (_i.e._, the bondholders represented by the bondholder committee, 
representatives of certain larger bondholders as appointed in connection 
with the restructuring of West Atlantic AB's bond in 2019), LUSAT and the 
minority shareholders of West Atlantic (who were the shareholders of West 
Atlantic prior to the restructuring of West Atlantic's bond) (together, the 
"Parties") have been in discussions with the aim to reach an agreement in 
order to, _inter alia_, solve the company's financial difficulties. 
 
The company which has not taken part in any discussions or negotiations in 
respect thereof, has today, by its ultimate owners, been informed that the 
Parties have entered into the formal agreement with the below main terms and 
conditions (which are substantially the same as in the principle agreement 
as disclosed on 16 June 2020 but with the deviation that the Bonds will 
continue to be listed on the Frankfurt Open Market). 
 
· All cash in the company (estimated to approximately MSEK 20) less 
transaction costs will be used for partial prepayment of the Bond. 
 
· LUSAT will acquire the shares in the company for SEK 1. 
 
· LUSAT will acquire the remaining approximately 49 per cent of the shares 
in West Atlantic AB. 
 
· By acquiring the shares in the company, LUSAT will indirectly take over 
the payment liability of the debt under the Bond which will be written 
down to approximately SEK 300 million. The terms and conditions of the 
Bonds will be substantially simplified. 
 
· The company will pay approximately SEK 295-300 million to the 
bondholders in three payment instalments according to the following: 
 
· approximately SEK 100 million will be paid on 30 June 2021; 
 
· approximately SEK 100 million will be paid on 30 June 2022; and 
 
· approximately SEK 95 or 100 million will be paid on 30 October 2022. 
 
On the third instalment, the company will have the option to (i) pay 
approximately SEK 100 million, or (ii) pay approximately SEK 95 million and 
share with the bondholders any possible upside on the divestment of the 
company's ATP-fleet up to SEK 20 million. 
 
· As security for company's payment liability under the restructured Bond, 
LUSAT provides guarantees (Sp. Pagarés) and the owner and one other 
individual representing LUSAT provide personal guarantees. 
 
· The Bond will continue to be listed on the Frankfurt Open Market. 
 
· The Parties will waive any claims that they may have against each other. 
 
Among other things, the sale of the company and the restatement and 
amendments of the Bonds are subject to the bondholders' approval in a 
written procedure. 
 
As stated in the company's press release made on 29 May 2020, the continuing 
financial outcome of the company has led to an insolvency situation during 
the second quarter and the board of directors has in accordance with the 
Swedish Companies Act prepared a special balance sheet (Sw. 
_kontrollbalansräkning_) which has been reviewed by the auditor. The special 
balance sheet shows a deficit in the equity and therefore a first general 
meeting of shareholders (Sw. _första kontrollstämman_) has been held and the 
company's equity must be restored within a statutory time limit of eight 
months. Through the above described transaction, including the write down of 
the debt under Bond, the equity will be restored and liquidation and 
bankruptcy can be avoided. 
 
More information in relation to the Parties' agreement under the master 
transaction agreement and the time schedule will be provided in the notice 
to the written procedure that will be made available by the company within 
short. Closing of all of the transactions will occur in two different steps 
and the last steps are estimated to occur in August 2020. 
 
For further information, please contact: 
Stefan Sundberg, CEO 
Telephone: [phone] 
E-mail: [e-mail] 
 
_This information is information that Swedish ATP Management AB (publ) is 
obliged to make public pursuant to the EU Market Abuse Regulation. The 
information was submitted for publication, through the agency of the contact 
person set out above, at 2020-07-13, 17.30 CEST._ 
 
*About Swedish ATP Management* 
 
Swedish ATP Management is a newly established asset management company 
dedicated to manage the BAE ATP (Advanced Turboprop) the most cost efficient 
cargo aircraft in its segment (8 ton in both metric volume and payload). We 
aim to increase ATP operations and utilization through our provided 
services. 
 
Swedish ATP Management AB (publ) reg. no.: 559204-4084, Box 6220, SE-102 34 
Stockholm, Sweden, www.atpcargo.com 
 
13-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Swedish ATP Management AB (publ) 
             Box 5433 
             40229 Göteborg 
             Sweden 
Phone:       [phone] 
E-mail:      [e-mail] 
ISIN:        SE0012930089 
WKN:         A19NPH 
Listed:      Regulated Unofficial Market in Frankfurt 
EQS News ID: 1092709 
 
End of Announcement DGAP News Service 
 
1092709 13-Jul-2020 CET/CEST 
 
 

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July 13, 2020 11:30 ET (15:30 GMT)