May 30, 2016
GlobalCapital p.l.c. (the “Company”) announces that the Listing Authority has approved the request of the Company to extend the offer period of the 5% unsecured 2021 €10,000,000 Bonds from the 30th May 2016 to the 8th June 2016. In this regard, a supplement dated 30 May 2016 to the Prospectus dated 12th May 2016 has been approved by the Listing Authority.
Extended offer period
In a company announcement issued today the Company noted that the length of the offer period originally contemplated in the Prospectus did not coincide with market expectations, particularly as the Company continues to receive interest from investors in the Bond Issue. Accordingly, the offer period of the Bond Issue is being extended to allow (i) Existing Bondholders (as defined in the Prospectus) who have expressed an interest in the Bond Issue the opportunity to subscribe to the Bonds, both by way of Existing Bond Transfer (as defined in the Prospectus), and, or by investing additional funds in cash; and (ii) Professional Clients who have expressed an interest in the Bond Issue the opportunity to subscribe to any balance of the Bonds not subscribed for by Existing Bondholders as at the Cut-off Date.
Commitments from the Company’s majority shareholder and Bond Sponsor
The Company has received a commitment from its majority shareholder, Investar p.l.c., to subscribe directly or through third parties up to €5 million in nominal value of the Bonds, in the event of a shortfall in the overall take-up of the Bonds.
Furthermore, the Company has also received commitments from its Bond Sponsor Calamatta Cuschieri, acting as nominee for and on behalf of its Professional Clients, to subscribe up to an additional €5 million in aggregate in nominal value of the Bonds in the event of a shortfall in the overall take-up of the Bonds after the fulfilment by Investar p.l.c. of its commitment. Such commitments amount in aggregate to €10,000,000, which is equivalent to the full amount of the Bond Issue.