6pm Holdings plc - Details of New Bond Issue
On 14 July 2015, 6pm Holdings plc (6pm) published a Prospectus dated 8 July 2015 in connection with a new €13 million bond issue. The Bond is reserved for 6pm’s shareholders as at the close of trading on 4 June 2015. The salient details of the new Bond issue are as follows:
Coupon:
5.1%
Amount Offered:
€13 million
Issue Price:
100% (par)
Interest Payment Date:
Annually on 31 July (first interest payment date is 31 July 2016)
Maturity:
The bonds will mature at 100% (par) on 31 July 2025.
Status:
Unsecured
The Bonds constitute the general, direct, unconditional and unsecured obligations of the Issuer and shall at all times rank pari passu, without any priority or preference among themselves and with other unsecured debt. It is also important to highlight that any secured debt, present or future, will rank prior to the Bonds for as long as the security interests against the Group’s assets remain in effect.
Use of Proceeds:
The net proceeds from the Bond issue, estimated at €12.5 million after issuance costs, will be principally used by the Issuer for the following purposes:
- to finance the acquisition of Blithe Computer Systems Limited for €5.8 million;
- to repay €3.2 million in bank facilities;
- to support the development of a number of products of the 6PM Group (circa €2.7 million);
- the balance will be used for general corporate funding purposes of the Group (circa €0.8 million).
Deadline for Shareholders:
Tuesday 28 July 2015 at 08:30 hrs with applications for a minimum of €2,000 and in multiples of €100 thereafter.
Intermediaries’ Offer (if any):
Friday 31 July 2015 at 08:30 hrs with applications for a minimum of €2,000 and in multiples of €100 thereafter.
In the event that the total amount of Applications received from shareholders of 6pm Holdings plc exceeds €13 million, the Intermediaries’ Offer will not take place.
Listing:
Official List of the Malta Stock Exchange
Disclaimer:
The value of investments may increase as well as decrease and past performance is not an indication of future performance. Prospective investors are urged to read the Prospectus including the Risk Factors contained in section 1 of the Registration Document and section 2 of the Securities Note. Prospective investors are urged to consult an independent financial adviser for advice prior to investing in the Bonds.
Downloads:
6pm Holdings plc – Summary Note dated 8 July 2015
6pm Holdings plc – Registration Document dated 8 July 2015
6pm Holdings plc – Securities Note dated 8 July 2015
6pm Holdings plc – Financial Analysis Summary dated 8 July 2015
This webpage has been prepared based on the Prospectus issued by 6pm Holdings plc dated 8 July 2015, and no representations or guarantees are made by Rizzo, Farrugia & Co. (Stockbrokers) Ltd with regard to the accuracy of the data. This webpage is for information purposes only. It is not intended to be and should not be construed as an offer or solicitation to acquire or dispose of any of the securities or issues mentioned herein. Rizzo, Farrugia & Co. (Stockbrokers) Ltd accepts no responsibility or liability whatsoever for any expense, loss or damages arising out of, or in any way connected with, the use of all or any part of this webpage.