GlobalCapital plc - Conditional Offer to BAI

Wednesday, April 22nd, 2015

On 22 April, GlobalCapital plc announced that it has been informed that EIP plc (a company incorporated in Malta) has made a conditional offer to BAI Co. (Mtius) Limited for the acquisition of the 48.45% shareholding it holds in GlobalCapital plc. The offer is subject to a number of conditions including the signing of a binding share purchase agreement, a full due diligence process and all necessary regulatory approvals.

In a separate announcement, GlobalCapital plc noted that the listing and trading of its securities (shares and bonds) have been suspended and that its largest shareholder, BAI Co. (MTIUS) has been placed under conservatorship. The Company explained that while its business and operations are separate and distinct from those of BAI, the decision of the authorities in Mauritius to appoint conservators to BAI has created uncertainty on the effect this will have on the operations of the Company.  In the meantime, the Company notes that recent and on-going developments relating to BAI in Mauritius appear to be complex and the Company is not privy to these events. As such, the Company will not comment on these events.

Further announcements will be issued in due course.

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