Scheme of Arrangement Update

Steinhausen, 02. October 2020, As announced by Selecta Group B.V. on 22 September 2020, more than 80% of Selecta’s Noteholders have undertaken to support the Company’s recapitalisation transaction (the “Transaction”) by agreeing to enter into the Lock-Up Agreement.

The Transaction will be implemented through a UK scheme of arrangement and today the convening hearing – a significant step in the process – was successfully concluded.

The immediate next steps are:

• Selecta Finance UK and (subject to all necessary creditor consents being provided) Selecta Group BV filing for recognition of the UK process in the US courts through a Chapter 15 filing; and
• On 21 October 2020, the scheme meeting during which the holders of the senior secured notes issued by Selecta may vote on the proposed Transaction.

The explanatory statement in respect of the scheme of arrangement has been uploaded to the Scheme Website at http://www.lucid-is.com/selecta. Noteholders are encouraged to review the explanatory statement, the associated documentation, and to submit a completed account holder letter to the Information Agent by the deadlines specified in the explanatory statement.

To the extent that any Noteholder has any questions with respect to completing an account holder letter, they should contact the Information Agent, Lucid Issuer Services Limited at:

Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom

Telephone: +44 20 7704 0880 2
Attention: Thomas Choquet / Jacek Kusion
Email: selecta@lucid-is.com

Selecta would like to thank the Noteholders for their support in respect of the Transaction, which management believes will enable the Company to drive further value for the benefit of all stakeholders.