Cablenet Communication Systems plc - Proposed New Bond Issue

On 1 June 2020, GO plc announced that its telecoms subsidiary operating in Cyprus – namely Cablenet Communication Systems Limited – and in which GO holds a stake of 60.26% is in advanced preparations in respect of a proposed public issue in Malta of 4% unsecured bonds with an aggregate principal amount of up to Euro 40 million.

If approved by the Board of Directors of Cablenet, an application will be submitted to the Listing Authority requesting the admissibility to listing of the bonds on the Official List of the Malta Stock Exchange. Furthermore, GO noted that should Cablenet proceed with the issuance of the bonds, a yet to be determined portion of the bonds will be available for subscription by GO shareholders on a preferential basis.

The proposed issuance of bonds is subject to a number of conditions, including but not limited to the conversion of Cablenet to a public limited liability company. Accordingly, GO will make further announcement/s in this respect as and when appropriate.