On 5 October 2010, Baystreet Finance plc announced that it will be writing to all holders of its 8% Bonds as at close of trading on 5 October inquiring whether such investors would wish to sell their Bonds to the Company at the price of 102%. Bondholders wishing to proceed in this manner must complete the Acceptance Form that will be sent by the Company in the coming days. This offer is valid for a 1 month period between 15 October 2010 and 15 November 2010.
Bondholders who accept to sell back their holding will receive the capital at 102% plus the accrued interest up to 24 November 2010. Payment of capital and accrued interest will be made on 24 November.
In view of this offer, trading in Baystreet bonds will be suspended as from 6 October 2010 until further notice.