On 31 August, Dolmen Properties plc announced that it will be redeeming the outstanding balance of its 6% Secured bonds on 20 November 2012. As specified in the Offering Memorandum dated 28 October 2003, the Company has the option to redeem the said bonds in whole or in part prior to the maturity date on 20 November 2013. The Prospectus had stated that the Company could avail itself of this option on 20 November 2010, 20 November 2011 and 20 November 2012 by giving at least 60 days advance notice.
In fact, Dolmen had redeemed €5.48 million in November 2010 representing 50% of the original €10.9 million bond issue.
Dolmen will be redeeming the remaining balance of €5.47 million from the balance of the Sinking Fund and new bank financing facilities.
Bondholders at the close of trading on 30 October will be receiving the principal together with the final interest payment on 20 November 2012.
Trading in these bonds will stop as from 31 October.