Cablenet Communication Systems plc - Bond Allocation Policy

On 13 August 2020, GO plc issued a company announcement detailing the allocation policy in respect of the €40 million 4% unsecured bonds 2030 issued by its telecoms subsidiary in Cyprus – namely Cablenet Communication Systems plc. In this respect, GO reiterated that in terms of the Prospectus dated 21 July 2020, Cablenet had entered into pre-allocation agreements with a number of financial intermediaries whereby an aggregate amount of €32 million worth of bonds were allocated. The remaining balance of €8 million worth of bonds was made available for subscription by ‘Preferred Applicants’ – namely GO plc shareholders and GO plc employees.

Cablenet received a total of 1,031 applications from ‘Preferred Applicants’ for a total amount of €10.91 million. Applications for amounts up to €10,000 will be satisfied in full while applications for amounts in excess of €10,000 will be allotted the first €10,000 and 27.9% of the balance, rounded down to the nearest €1,000.

Interest on the bonds will start accruing as from 18 August 2020 and refunds of unallocated monies will be processed by 21 August 2020. The bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on 21 August 2020 and trading may commence as from 24 August 2020.