Etraveli AB (publ) – Change of control notice

Nov 30, 2015

Etraveli AB (publ) (“eTraveli”) hereby announce the occurrence of a change of control event under terms and conditions (the “Bond Terms”) for senior secured callable floating rate bonds 2013/2017 with ISIN: SE0005393220 (the “Bonds”).

On 12 October 2015, eTraveli announced the acquisition by 7Travel Flights HoldCo AB (being an indirect subsidiary of ProSiebenSat.1 Media SE) of all shares in eTRAVELi Holding AB (being the direct parent of eTraveli) (the “Acquisition”).

The Acquisition was completed on 30 November 2015 and as a consequence a Change of Control Event (as defined in the Bond Terms) has occurred.

Upon the occurrence of a Change of Control Event (as defined in the Bond Terms), each of the holders of Bonds may exercise its right (the “Put Option”) to request that all, or only some, of its Bonds be repurchased, at a price per Bond equal to an amount of 101.00 per cent of the nominal amount together with accrued but unpaid interest, during a period of 60 calendar days following the date of this notice (the “Put Option Period”). Hence, the Put Option Period extends from 30 November 2015 to 29 January 2016. The repurchase date must fall no later than 20 banking days after the end of the Put Option Period, i.e. 26 February 2016 (the “Repurchase Date”).

eTraveli has today also notified all holders of Bonds that it exercises its right to call for early redemption in full of the Bonds (the “Call Option”). The redemption date for the Bonds pursuant to the Call Option will be 30 December 2015 (the “Call Redemption Date”) at a price equal to 104.00 per cent. of the nominal amount of each Bond together with accrued but unpaid interest (the “Call Redemption Price”). The Call Redemption Date will therefore fall prior to the end of the Put Option Period and prior to the Repurchase Date. Hence, any exercise of the Put Option will not be settled as any and all Bonds will be redeemed at the Call Redemption Price on 30 December 2015.

For further information, please contact:
Claes Tellman
Chief Communications Officer
Tel: +46 70 399 62 81

The securities described in this announcement have not and will not be registered with the at any time applying United States Securities Act from 1933 (the “Securities Act”).
This announcement contains such information that eTraveli is obliged to make public pursuant to the Securities Market Act (Sw. lag 2007:528 om värdepappersmarknaden) and the Financial Instruments Trading Act (Sw. lag 1991:980 om handel med finansiella instrument). The information was announced on 30 November 2015 at [14:05] CET.

About eTraveli
Etraveli is the leading e-commerce group for online travel in the Nordics and one of the five largest in Europe, providing a wide range of airline tickets, hotel accommodation and other travel related services. The Company operates in 40 countries on 4 continents. In 2014 Etraveli transacted air tickets and related services for about SEK 8.5 billion, and had more than SEK 640 million in revenue. In recent years Etraveli has grown significantly, expanded its geographical footprint and increased its profitability. In the first six months of 2015, Etraveli’s net revenue growth was 34% y-o-y.