Real People Investment Holdings Limited - Notice of a written procedure
Real People Investment Holdings Limited up to SEK 260,000,000 and up to NOK 135,000,000 Senior Unsecured Callable Bonds 2013/2018 ISIN: SE 000 5392560 and NO 001 0689342
Johannesburg, 10 November 2017
Real People Investment Holdings Limited requests that its Nordic bondholders votes in favour of a restructuring of its debt liabilities.
As previously communicated in press releases, the Real People Group is experiencing financial difficulties and the Issuer has entered into a standstill agreement (the "Standstill Agreement") with creditors in order to facilitate a restructuring of its debt liabilities.
Real People Investment Holdings Limited (the "Company") has on the date hereof given instructions to Nordic Trustee & Agency AB (publ), being the agent under its up to SEK 260,000,000 and NOK 135,000,000 senior unsecured callable bond loan with ISIN SE0005392560 and NO0010689342 2013/2018 (the "Bonds") to initiate a written procedure in order to request that the bondholders vote in favour of (i) approving a restructuring of the debt liabilities of the Group (the "Restructure"), (ii) amending the Terms and Conditions of the Bonds in order for the bondholders to exchange approximately 41% of their existing senior claims under the Bonds for participating notes passing on the benefit of 22,093,580 ordinary shares and junior ZAR-denominated payment-in-kind notes ("E PIK Notes") that will be issued by the Company (iii) releasing Real People Kenya Ltd as a guarantor for the Bonds, and (iv) extending the last date of the Standstill Period (as defined in the Standstill Agreement) from 30 November 2017 to 22 December 2017. The ordinary shares allocated to the Bonds will correspond to approximately 18.4% of the capital of the Company after the Restructuring and the junior E PIK Notes will have an aggregate principal amount that will correspond broadly to the exchanged amount of the Bonds (minus a 3% allocation to a management incentive trust and potential currency conversion effects).
The effect of the amendment of the Terms and Conditions of the Bonds and the Restructure will be that the amount outstanding under the Bonds will be reduced to approximately 59% of the outstanding amount under the Bonds and that the bondholders in exchange will receive participating notes passing on to the bondholders the benefit of the junior ZAR-denominated payment-in-kind notes and ordinary shares allocated to the Bonds.
The agent will dispatch the notice to the written procedure to all bondholders on 10 November 2017 in accordance with the terms and conditions of the Bonds. The written procedure will end at 17:00 (CET) on 20 November 2017.
A full version of the notice of the written procedure is available on the Company's website (www.realpeoplegroup.co.za) and on Stamdata (www.stamdata.com). An investor presentation describing the Company, the Restructuring and that includes certain financial information and forecasts is included as a schedule to the notice.
For further information, please contact:
Neil Grobbelaar, Group Chief Executive Officer
The information contained in this press release is such information that Real People Investment Holdings Limited is required to publish in accordance with the Swedish Securities Market Act (2007:528) and/or the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication on 10 November 2017 at 7am.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Real People Investment Holdings Limited via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
Barings Alternative Investments Expands Aviation Investment Platform Through Partnership with Genesis Aircraft Services23.3.2018 15:00 | Pressemelding
CHARLOTTE, N.C., March 23, 2018 (GLOBE NEWSWIRE) -- Barings Alternative Investments, part of Barings LLC, one of the world's leading financial services firms, announced today the expansion of its aircraft leasing platform on behalf of the firm's institutional fund clients through Genesis Aircraft Services Limited. To facilitate new aircraft acquisitions on behalf of Barings' clients, Genesis will increase existing capabilities to now include all commercial, technical, portfolio and legal management functions required of a full-service premier owner and lessor of commercial aircraft. As part of its increased capabilities, Karl Griffin will join Genesis as Chief Commercial & Investment Officer and will also be appointed to the Genesis Board of Directors effective May 2018; Anna Reimers will join Genesis as Chief Legal Officer; and John McMahon will be appointed to Genesis' Board as an independent director. Griffin is currently the Chief Operating Officer at DAE Capital, an aircraft leasi
Agrisolutions Acquires Trinity23.3.2018 12:00 | Pressemelding
HAMILTON, Ontario, March 23, 2018 (GLOBE NEWSWIRE) -- Venanpri Group's Agrisolutions division, which services the global agricultural marketplace with its Ingersoll and Bellota brands, announced today the acquisition of Trinity Logistics Corporation ("Trinity"). Based in the U.S., Trinity provides supply-chain solutions relating to fasteners and other components to leading global OEMs that produce mission critical machinery for the agricultural and construction end markets. The terms of the transaction were not disclosed. Headquartered in Davenport, Iowa, Trinity has established ten strategically located service facilities throughout the United States. Trinity specializes in the supply of standard and custom components through vendor managed inventory programs and other arrangements tailored to customer needs. Trinity utilizes its industry leading technology to improve the flow of products, services and information across the supply chain resulting in excellence in the operations of it
Comodo CA Sees 35 Percent Year-Over-Year Increase in EV Certificates22.3.2018 15:47 | Pressemelding
EV SSL will be a topic of discussion at the Comodo CA booth during RSA 2018 CLIFTON, N.J., March 22, 2018 (GLOBE NEWSWIRE) -- Comodo CA, a worldwide leader in digital identity solutions, will address evolving cyberthreats and the increasing importance Extended Validation (EV) TLS/SSL certificates play in securing websites and inspiring consumer trust at the RSA Conference 2018, San Francisco, April 16 - 20. According to the Feb 2018 Netcraft report, Comodo CA has seen a 35 percent year-over-year increase of EV certificate units* making it one of the fastest growing providers of high assurance certificates. The volume of EV certificates globally also saw a record year in 2017 as more and more businesses adopt EV as standard practice for their websites. The demand for stronger, more secure EV certificates comes in the wake of increased phishing websites using Domain Validated (DV) certificates. Phishing websites imitate legitimate websites to steal customers' funds and identities. Phishi
CBT Pharmaceuticals to Grow Immuno-Oncology Pipeline by License Agreement of CrownBio CTLA-4 Antibody22.3.2018 14:43 | Pressemelding
SAN DIEGO, March 22, 2018 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE:6554) and a global drug discovery and development services company providing translational platforms to advance oncology, inflammation, cardiovascular and metabolic disease research, announced today a strategic licensing agreement with CBT Pharmaceuticals (CBT), a U.S. and China-based innovative biopharmaceutical company committed to becoming a leader in the discovery and development of oncology combination therapies. The agreement gives CBT exclusive world-wide development and commercialization rights to a novel, recombinant, human monoclonal antibody which targets a differentiated epitope on the cytotoxic T-lymphocyte antigen-4 (CTLA-4) molecule. Binding of this antibody to CTLA-4 blocks the interaction of CTLA-4 with its ligands CD80/CD86 thus allowing the cytotoxic T cells to function actively. Under the terms of this global licensing agreement, CBT gain
Cloudflare Announces Mobile SDK to Monitor Network Performance for Applications22.3.2018 14:00 | Pressemelding
New free solution delivers network analytics to any mobile app developer SAN FRANCISCO, March 22, 2018 (GLOBE NEWSWIRE) -- Cloudflare, the leading Internet performance and security company, today announced the Cloudflare Mobile SDK, a free solution that enables any mobile app developer to understand network performance and metrics. Consumers are frustrated by mobile apps that are slow, crash, or deliver errors that degrade the user experience. For mobile app developers, a bad user experience means poor reviews, lower engagement, and reduced conversion on business metrics. Delivering consistent app performance requires focusing on every link in the chain: app code, network calls between the app and edge networks, and server infrastructure. There are a number of solutions that give developers analytics on their applications, but there has never been a way for app developers to understand how often their apps fail due to network errors. App developers easily integrate the Cloudflare Mobil
Compuware: Survey Shows Critical Mainframe Workloads Increasing While Mainframe Staff Losses Remain Unfilled22.3.2018 13:00 | Pressemelding
Many Organizations Not Measuring, Prioritizing Vital Key Performance Indicators 57 percent of enterprises with a mainframe currently run more than half of their business-critical applications on the platform-with that number expected to increase to 64 percent by next year. 72 percent of customer-facing applications are completely or very dependent on mainframe processing. Enterprises have only replaced 37 percent of the mainframe workforce lost over the past five years. Many organizations surveyed are not currently measuring velocity or efficiency key performance indicators, putting them at a disadvantage in the digital age. DETROIT, March 22, 2018 (GLOBE NEWSWIRE) -- The mainframe is becoming more important to large enterprises, with the percentage of organizations running at least half their business-critical applications on that platform expected to increase next year. However, the loss of skilled mainframe staff, and the failure to subsequently fill these positions, pose significan
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom