GAP Group plc - Basis of Acceptance for Bond Issue

On 11 January 2022, GAP Group plc announced the basis of acceptance in relation to the issuance of €21 million 3.90% secured bonds maturing between 2024 and 2026.

GAP Group received applications amounting to €10.8 million from holders of the existing 4.25% GAP Group plc secured bonds 2023 through an exchange offer. All applications were met in full. In addition, the company allotted the remaining balance of €10.2 million to holders of the 4.25% secured bonds 2023 in respect of any excess amounts applied for, as well as Authorised Financial Intermediaries through Placement Agreements.

As a result of the exchange offer, the outstanding amount of the 4.25% secured bonds 2023 has been reduced to €8.4 million. Trading in these bonds will now resume as from Tuesday 18 January 2022.

The new bonds are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Monday 17 January 2022 and trading is expected to commence on Tuesday 18 January 2022.

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