Dott Unveils New Written Procedure for Senior Secured Bonds to Extend Audit Deadline

Dott's Revised Written Procedure for Bonds

On July 27, 2026, Dott, marketed officially as TIER Mobility SE, announced a significant update regarding its Senior Secured Floating Rate Bonds set for 2025/2029. This move is part of the issuer's effort to navigate the complexities surrounding its financial reporting. The company has previously communicated a need to withdraw the written procedure issued on July 21, 2026, and has instead initiated a new Written Procedure aimed at securing bondholder approval for crucial changes regarding the reporting timeline.

Key Updates in the New Proposal

The central focus of the new Written Procedure involves extending the delivery deadline for Dott's audited consolidated financial statements for the year ending December 31, 2025, to September 30, 2026. This decision is attributed to the extensive work required to finalize the statements, which are currently undergoing a comprehensive review process. The involvement of Dott's financial advisors and auditors, PricewaterhouseCoopers, has been integral to this process, and as of now, the audit stands at an advanced stage.

Dott has assured stakeholders that no issues have arisen thus far in the audit that would hinder the expected approval. The company expresses confidence that all necessary financial statements will be ready for dissemination before the new deadline.

Financial Incentives for Bondholders

Should the bondholders agree to the proposed extension, Dott plans to offer several financial incentives to secure their consent. Specifically, the company intends to provide a cash consent fee equivalent to 1.00% of the nominal amount of each bond. Moreover, there will be an additional consent premium of 3.00% applied to any existing redemption premiums in line with the terms and conditions of the bonds.

Additional Changes and Communication

Apart from the most crucial extensions and financial incentives, Dott has indicated that other amendments to the Terms and Conditions of the Bonds will be proposed. These modifications have already been agreed upon by bondholders representing over 50% of the adjusted nominal amount of the Bonds, showcasing a level of support for the issuer’s ongoing financial strategy.

The communication regarding this Written Procedure will be formally circulated through Verdipapirsentralen ASA (Euronext Securities Oslo) to entities registered as holders of the bonds by July 29, 2026. Additionally, comprehensive details will be accessible on both the issuer's and the agent's websites.

Those interested in participating in the decision-making process must take note of the voting record date set for July 31, 2026, with the deadline for casting votes closing at 1500 CET on August 12, 2026. Following the conclusion of this voting period, Dott will announce the outcome through a press release.

Conclusion

This initiative reflects Dott's proactive approach in managing its obligations under the bond agreements while also prioritizing transparency with its stakeholders. As the company continues to finalize its 2025 financials, the emphasis remains on aligning with the interests of bondholders, ensuring their support during this pivotal period. Stakeholders are encouraged to reach out to Nordic Trustee Agency AB (publ) for any inquiries relevant to this procedure.

For further inquiries, stakeholders can contact Chris Hadfield or Jacopo Dominione at their provided emails in the official communication, as Dott embarks on this revised financial trajectory.