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
FOUR IN FIVE EXECUTIVES AGREE AGILITY IS MOST IMPORTANT CHARACTERISTIC OF A SUCCESSFUL ORGANIZATION18.9.2018 16:03 | Pressemelding
New research by Forbes Insights and sponsored by Scrum Alliance brings light to the “elusive” Agile enterprise Denver Colorado, Sept. 18, 2018 (GLOBE NEWSWIRE) -- PRESS RELEASE FOR IMMEDIATE RELEASE: MEDIA CONTACT: September 18, 2018 Heather Leigh, Public Relations Director 720-443-7314,email@example.com www.scrumalliance.org SEPTEMBER 18, 2018 – DENVER, CO – A new report by Forbes Insights finds 81 percent of respondents agree on the critical importance of agility when it comes to leading a successful organization. The report, “The Elusive Agile Enterprise,” was sponsored by Scrum Alliance, a Scrum certifying body and the largest professional association of Agile practitioners worldwide. In preparing the report, the Forbes Insights team surveyed more than 1,000 C-level executives worldwide, and also conducted one-on-one interviews with leaders of select “champion” organizations, including GEHealthcare, J. Walter Thompson Company, Nokia, Team WIKISPEED, Toyota Connected and Unis
Cloudian Joins iRODS Consortium18.9.2018 15:00 | Pressemelding
HyperStore Enterprise Object Storage Validated with iRODS Platform SAN MATEO, Calif., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Cloudian today announced the company has joined the iRODS Consortium, the foundation that leads development and support of the integrated Rule-Oriented Data System (iRODS). Testing for HyperStore enterprise object storage with iRODS is complete, and users may now deploy the combined solution where local workflows require cost-effective, exabyte-scalable storage and ease of integration. iRODS is free open source software for data discovery, workflow automation, secure collaboration and data virtualization used by research and business organizations around the globe. Easily deployed in an existing infrastructure, iRODS creates a unified namespace and a metadata catalog of all the data and users within the storage environment. With the iRODS rule engine framework, users can completely automate an organization’s data management policy. “We’re thrilled to be working with
Harbert European Growth Capital Announces Final Close18.9.2018 14:35 | Pressemelding
LONDON, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Harbert European Growth Capital (“HEGCF”), is pleased to announce the final close of its second fund (“Fund II”) at €215 million, a substantial increase over Harbert European Growth Capital Fund I (“Fund I”). HEGCF, which provides debt capital to fund growth opportunities across technology, life science and other innovative sectors attracted significant institutional capital, as well as numerous family office investors. “We are grateful for the support and trust that our existing and new investors have placed in us,” said David Bateman, Senior Managing Director and co-head of HEGCF. “The market opportunity remains strong with many companies across Europe seeking expansion funding of various forms,” notes Johan Kampe, Senior Managing Director and co-head of HEGCF. It has been a busy start with Fund II already having closed investments in 21 new companies since the first close in summer 2017. HECGF also continues to have follow on investing acti
Teledyne DALSA expands its area camera series with the industry’s first 5 Gigabit, GigE Vision models18.9.2018 14:30 | Pressemelding
Eight new Genie Nano cameras deliver fast, high-resolution inspection for existing GigE Vision machine vision systems WATERLOO, Ontario, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Teledyne DALSA, a Teledyne Technologies company and global leader in machine vision technology, is pleased to introduce its newest Genie Nano cameras with eight new monochrome and color models built around the industry’s best performing SONY ® image sensors. These industry-first 5-Gigabit GigE Vision cameras feature resolutions from 3.2Mpixels to 12Mpixels with more models to follow before the end of the year – including a 5Mpixel Polarized model. Engineered for imaging applications that require high-speed data transfer, these new Nano models are an easy replacement for cameras built into current vision systems that rely on the existing GigE vision interface standard. These new Genie Nano models feature the brand new 5GBASE-T link speed. IEEE 802.3bz-2016 is the expanded standard for Ethernet over twisted pair copper
Father’s personal experience drives hospitals to improve patient communication18.9.2018 14:00 | Pressemelding
CareCircle fills gap after CarePages closure leaves hospitals in a bind GRAND RAPIDS, Mich., Sept. 18, 2018 (GLOBE NEWSWIRE) -- After experiencing the challenges that come with communicating with friends and family from during his daughter's chemotherapy treatment for a rare disease, Nathan Loding, 34, of Grand Rapids thought there had to be a better way to keep friends and family updated on his daughter’s condition and get the support their family needed. Thanks to his livelihood as a software developer at Grand Rapids-based global business technology firm OST, he quickly turned his idea into reality. The result is CareCircle (www.carecircle.com), a secure website that allows patients to safely provide updates on their health and share private information with a select audience. The site launched Sept. 1 and has already been piloted by one of the nation’s largest health care systems. The platform is wholly-owned and operated by OST. CareCircle’s launch is very timely, as popular patie
Talend Supports La Mutuelle Générale to Power its AWS Cloud Data Lake18.9.2018 14:00 | Pressemelding
Health Insurance Company Accelerates the Implementation of New Services and Strengthen Business Applications REDWOOD CITY, Calif. & SURESNES, France, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Talend (NASDAQ: TLND), a global leader in cloud data integration solutions, today announced that La Mutuelle Générale, a leading provider of insurance solutions for businesses and individuals, has chosen Talend Cloud Platform to support the company in their project to build an Amazon Web Services (AWS)-based cloud data lake to serve as the foundation of all their data initiatives. With Talend, La Mutuelle Générale provides self-service data access for its data scientists to improve customer relations and offer innovative services. "As is the case in many industries, the insurance sector is in the midst of a transformation from a technical to a service industry. As part of our global business approach, we place digitalization, data and innovation at the heart of our strategy and customer satisfaction," sa
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom