Status and fulfilment of the Composition Agreement – information to enable issuance of securities
In relation to preparation of the issuance of the Bonds and the Shares (together the “Securities”) as a part of the fulfilment of the Composition Agreement of LBI, creditors entitled to receive Securities in accordance with the conditions of the Composition Agreement have been instructed to provide certain information and documents. It is emphasised that these instructions are more extensive than the information requested for the purposes of the de minimis payment, including with respect to anti-money laundering controls (KYC requirements) and the return of the appropriate IRS Form to confirm the tax position of each creditor in the United States of America.
The relevant information and documentation can be submitted electronically through the website https://composition.lbi.is using the login credentials previously sent to creditors.
If the necessary information or documentation has not been provided, the information and/or documentation is not in proper form or if the same has not been verified as sufficient prior to the issue date, the Securities attributable to the creditor in question will be placed on escrow in accordance with paragraph 5 of Article 103 a of Act No 161/2002 on Financial Undertakings as amended, until such time as delivery can take place.
Securities and rights attributable to claims which are disputed and/or contingent will be preserved in accordance with the aforementioned provision of the Act on Financial Undertakings and in accordance with the Composition Agreement, until the dispute has been resolved or condition is no longer relevant, so that delivery can take place.
Further information concerning the issuance of the Securities will be provided in due course.