Nasdaq GlobeNewswire

Real People Investment Holdings Limited - Notice of a written procedure

Del

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

Email: NGrobbelaar@realpeople.co.za

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.




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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

Nasdaq GlobeNewswire
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

MBA Hiring is Strong, with 4 in 5 Companies Planning to Hire Graduates in 201821.6.2018 15:00Pressemelding

MBA Graduates Commanding Salary Premiums RESTON, Va., June 21, 2018 (GLOBE NEWSWIRE) -- The Graduate Management Admission Council (GMAC) has released its 17th annual survey report, the GMAC 2018 Corporate Recruiters Survey report, and findings indicate that MBA hiring remains strong. Overall, 81 percent of responding companies plan to hire MBA graduates in 2018. Among all respondents globally, 52 percent of companies plan to increase MBA starting base salaries this year. Around the world , MBA graduates continue to command a salary premium relative to direct-from-industry hires and bachelor's degree hires. The projected median base starting salary for recent MBA graduates in the United States in 2018 is US$105,000, compared with US$85,000 for direct-from-industry new hires and US$65,000 for bachelor's degree new hires. The data reflect a slight decline in projected hiring among US and European employers compared to 2017's hiring plans: 85 percent of responding US companies and 64 perce

Clinical data demonstrates significantly increased cure rates using Resistance Guided Therapy for treating the STI Superbug M. genitalium21.6.2018 09:00Pressemelding

SpeeDx ResistancePlus® MG test supports new STI management guidelines SYDNEY, Australia, June 21, 2018 (GLOBE NEWSWIRE) -- SpeeDx Pty. Ltd. today announced clinical data contained in a new study published in the June 2018 issue of Clinical Infectious Diseases 1 [link ] supports the use of Resistance Guided Therapy for more effective treatment of Mycoplasma genitalium infections. Using the SpeeDx ResistancePlus® MG test, the authors recorded an overall cure rate of >92%, a significant increase compared with previous cure rates of 67% prior to using Resistance Guided Therapy.ResistancePlus MG test simultaneously detects the sexually transmitted infection (STI) M. genitalium and the genetic markers linked to antimicrobial resistance (AMR). The test is CE marked and in use across Europe, and available in laboratories across Australia and New Zealand. Clinical trials are underway in the U.S. in preparation for de novo clearance for the test with the U.S. Food and Drug Administration. "This

LM Industries Brings Manufacturing Into the Future as World's First Digital OEM20.6.2018 18:00Pressemelding

The creators of autonomous shuttle Olli form LM Industries, a company designing and building future-looking products with partners like Allianz, Airbus and the United States Marine Corps SAN FRANCISCO, June 20, 2018 (GLOBE NEWSWIRE) -- Today, the creators of the Rally Fighter and Olli announced the formation of LM Industries Group, Inc., a technology-enabled manufacturer focused on mobility products headquartered in San Francisco. LM Industries is the world's first digital OEM - which can take concepts to deployed products in under one year, all on its unique digital thread. It brings products to market in an entirely new way, designing with its global community of experts, and applying technology such as 3D printing to create and assemble products in small batches at agile microfactories. The process challenges the century-long dependency on mass manufacturing which has failed to keep up with the modern pace of technological innovation. LM Industries creates transportation, accessibil

Anglo American, Milliken & Company, MOL Group, Koch Industries, Goldcorp and AccorHotels among the Excellence Award winners at Enablon's Sustainable Performance Forum20.6.2018 17:15Pressemelding

Enablon recognizes companies for effectively leveraging technology to improve their sustainability performance CHICAGO, June 20, 2018 (GLOBE NEWSWIRE) -- Enablon, a Wolters Kluwer business and the world's leading provider of EHS, Operational Risk Management and Sustainability Software, announced today the winners of the 2018 Enablon Excellence Awards. The awards were given during a gala dinner at the Sustainable Performance Forum (SPF) in Chicago, and in Paris. The Enablon Excellence Awards recognize organizations that are leading the way within their industry and that effectively leverage technology to improve their sustainability performance to benefit their business, and also their employees, customers and the communities in which they operate. The 2018 Excellence Awards winners are: Enablon Excellence Award in EHS Performance: Koch Industries (Americas) & MOL Group (EMEA) Enablon Excellence Award in Governance, Risk & Compliance (EMEA): AccorHotels Enablon Excellence Award in Integ

Datameer Named Leader in Ovum Self-Service Data Prep Decision Matrix20.6.2018 15:40Pressemelding

Datameer ranked among top vendors for integration and exploration, data manipulation, data governance, and administration SAN FRANCISCO, June 20, 2018 (GLOBE NEWSWIRE) -- Datameer, the leader in big data management for analytics, is pleased to announce that it was named a leader in the Ovum Decision Matrix, Selecting a Self-Service Data Prep Solution, 2018-2019, ahead of Alteryx, Datawatch and Oracle. The report highlights Datameer as "a broad and complex platform [..] focused on building and managing data pipelines that enable data to be fed into any analytic tool." "In the self-service data prep market, we're increasingly seeing the trend of 'platformization' of products, whereby data prep becomes a feature rather than a stand-alone tool," said report author Paige Bartley, senior analyst at Ovum. "Datameer has taken this approach, offering a broad platform focused on data pipelines and self-service enablement. But with a broader platform and functionality comes the need for greater g

Kofax Robotic Process Automation Software Creates Smarter Robots20.6.2018 14:00Pressemelding

Kapow 10.3 Adds Artificial Intelligence, Machine Learning and Other Enhancements IRVINE, Calif., June 20, 2018 (GLOBE NEWSWIRE) -- Kofax ®, a leading supplier of software to automate and digitally transform information intensive processes, today announced the addition of artificial intelligence (AI), machine learning and other capabilities in its Kapow(TM) 10.3 Robotic Process Automation (RPA) software. Kapow, the #originalbot, automates and digitally transforms a wide range of human and information intensive processes across front and back office operations. It allows users to develop and deploy smart robots that mimic human actions while driving continuous improvement using AI and machine learning. Kapow robots interact seamlessly across desktop software, traditional enterprise and browser based systems and web sites, aggregating data, transforming it into actionable information, triggering responses, and communicating with other applications. Kapow 10.3 leverages AI and machine lear

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom