GAP Developments plc - Bond Repurchase

Friday, October 14th, 2011

On 13 October 2011 GAP Developments plc announced that it repurchased €783,240 (nom) of its 7% Secured bonds 2013 as permitted in the Prospectus dated 21 March 2007. The Company explained that these bonds were repurchased from bondholders and subsequently cancelled. Following this buy back, the total amount of outstanding bonds has been reduced to €33.1 million.

During the past 5 months GAP Developments plc has repurchased and subsequently cancelled a total of €1.8 million (nominal) from its original issue of €35 million thereby reducing the amount outstanding by 5.25%.

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