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Updated: Mar 17, 2023

Brokercreditservice Structured Products PLC - Consent Offer Results

14 MARCH 2023

Full announcement available via Luxse.

"The Issuer hereby announces that at the Meeting held on 14 March 2023 with respect to the Notes in connection with the Consent Solicitation, the necessary quorum to consider the Extraordinary Resolution was present and the requisite number of votes were cast in favour of the Extraordinary Resolution. Accordingly, the Extraordinary Resolution was duly passed by the Noteholders and became effective on 14 March 2023.

In accordance with the terms of the Extraordinary Resolution, the Issuer intends to execute the Final Terms supplement as soon as possible and proceed with payment of the February 2023 Interest Amount, using 22 February 2023 as the record date, within 10 Business Days from the Extraordinary Resolution being passed."


Brokercreditservice Structured Products PLC - Launch of Consent Offer on XS1675776014

10 MARCH 2023

Full announcement available via Luxse.


On 3 February 2023, Euroclear announced1 the full withdrawal of the Russian Ruble as a settlement currency with respect to all payments processed through Euroclear. Promptly upon Euroclear's announcement being published, the Issuer has engaged with the relevant third parties to seek alternative options, however, due to the announcement having been made shortly before the due date for the upcoming payment under the Notes and in light of this withdrawal, the interest under the Notes due and payable on 28 February 2023 (after giving effect to the Following Business Day Convention) (the "February 2023 Interest Payment Date") (the "February 2023 Interest Amount") was not paid thereon for the reasons beyond the Issuer's control and not related to the Issuer's solvency.

Accordingly, to allow smooth payment of the February 2023 Interest Amount and any other amounts payable under the Notes going forward and ensure that the rights of the Noteholders to receive such amounts are not prejudiced, the Issuer is hereby seeking Consent by way of the Extraordinary Resolution for:

1. the implementation of the fallback currency option for making payments under the Notes;

2. the deferral of the February 2023 Interest Payment Date; and

3. the waiver of certain breaches in connection with the deferral,

each as set out in more detail in the sub-section "Summary of the Proposals" immediately below."

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