Scandsib Holdings Ltd: Financial Restructuring of Issuer's group companies

Nicosia (pta036/13.12.2021/15:45 UTC+1) The Issuer wishes to provide update information on the announcement of 15 November 2021 according to which the coupon payment of its Notes that was due on 2nd August 2021 is delayed.

Further to (i) the restructure of the Issuer's group companies, (ii) the receipt of planning permission to convert 35,000 sqm space of a warehouse facility to a modern logistics centre, (iii) the application to increase the lettable area of the facility by 7,000 sqm and convert the whole facility to a business centre and (iv) the provision of the consolidated results of the operating entities signed by KPMG Limited to the financial institutions, two investment funds (based in Qatar and Bahrain) were selected for further negotiations on the financial restructuring of Scandsib Holdings Ltd group companies and provision of funding for capital expenditure.

With both investment funds the negotiations were extended to include (i) additional liquidity, (ii) the provision of working capital, (iii) the refinancing of the Notes and (iv) a capital investment for the conversion of the warehouse facility. A feasibility study was requested.

All due diligence procedures with both investment funds were completed. Terms and conditions have been agreed and the feasibility study on the conversion of the warehouse facility is being prepared by KSI Malta, an independent member of Morison Global an international association of professional service firms.

The Issuer expects the conclusion of the feasibility study and the negotiations within the next six weeks.

An alternative source of short-term liquidity and provision of funding for the coupon payment of the Notes, in the form of bridge loan finance, is being negotiated by the Issuer with a London based financial institution.

IMPORTANT NOTICE:
This notice is issued by the Issuer. These materials are not intended to and do not constitute investment advice. These materials do not constitute or form any part of and should not be constructed as an offer or commitment to sell or issue, a solicitation, recommendation, commitment, or invitation to subscribe for, underwrite or otherwise acquire, and should not be construed as an advertisement for, any securities of the Issuer in any jurisdiction or an inducement to enter into investment activity in any jurisdiction.

Further Information
SCANDSIB HOLDINGS LTD,
Griva Digeni 28, Floor 1, Office 108, 1066 Nicosia, Cyprus
Attention: Ioanna Agathokleous, Legal, Administration and Treasury Manager
Telephone: +35722516704
Email: Ioanna.Agathokleous@Scandsib.com

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Emitter:	Scandsib Holdings Ltd Griva Digeni 28, Floor 1, Flat 108 1066 Nicosia Cyprus
Contact Person:	Mikkos Kapiri
Phone:	+357 22 877 500
E-Mail:	mikkos@exsusinternational.com
Website:	www.Scandsib.com
ISIN(s):	AT0000A21J31 (Bond)
Stock Exchange(s):	Vienna Stock Exchange (Vienna MTF)