Real People Investment Holdings Limited – Early Partial Redemption of Nordic Senior Bonds with Excess Cash and Minor Corrections of the Terms and Conditions
Real People Investment Holdings Limited up to SEK 260,000,000 and up to NOK 135,000,000 Senior Unsecured Callable Bonds 2013/2022 ISIN: SE 000 5392560 and NO 001 0689342 (the "Bonds")
Johannesburg, 13 September 2018
Reference is made to the terms and conditions for the Bonds, originally dated 16 September 2013, as amended and restated by an amendment and restatement agreement dated 5 December 2017 (the "Terms and Conditions").
Correction of the scheduled amortisations and the cost to income ratio
It has been discovered that the provision regulating scheduled amortisations set out in Clause 10 (Amortisation) of the Terms and Conditions for technical reasons by mistake refers to the Capital Nominal Amount from time to time rather than the Capital Nominal Amount as of 31 March 2018. This deviates from the corresponding provision in the Senior Unsecured Loan Agreement (as defined in the Terms and Conditions) and the repayment profile that were set out in the notice for written procedure published on 10 November 2017 (the "Notice for Written Procedure"). Such deviation would result in slightly lower payments to the Bondholders than pro rata with the Senior Lenders.
The Agent and Real People Investment Holdings Limited (the "Company") have agreed to rectify this obvious mistake by amending the first row of the table in Clause 10 (Amortisation) of the Terms and Conditions as set out below:
|Amortisation date||Amortisation amount (SEK Bonds) per cent. of the Capital Nominal Amount outstanding as of 31 March 2018 (SEK 80,079,703.92) set out below)*||Amortisation amount (NOK Bonds) per cent. of the Capital Nominal Amount outstanding as of 31 March 2018 (NOK 62,324,904.63) set out below)*|
(*new added wording has been marked with double underline)
Furthermore, a typo has been discovered in paragraph (c) of Clause 14.2 (Financial condition) of the Terms and Conditions. Pursuant to the current wording of the Terms and Conditions, the Cost to Income Ratio (as defined therein) shall not be less than or equal to 0.68:1.00. This deviates from the covenant structure set out in the summary of the amendments to the Terms and Conditions in the Notice for Written Procedure, pursuant to which the Cost to Income Ratio should not be greater than 0.68:1.00. The Agent and the Company have agreed to rectify this obvious error by amending paragraph (c) of Clause 14.2 (Financial condition) of the Terms and Conditions by replacing the words "less than or equal to" with "greater than" as set out on the following page:
Cost to Income Ratio: the Cost to Income Ratio in respect of any Measurement Period shall not be less than or equal to greater than 0.68: 1.00.
(deleted wording has been marked with strike-through and new added wording with double underline)
The amendments are made pursuant to sub-paragraph (a)(ii) of Clause 21 (Amendments and Waivers) of the Terms and Conditions. The amendments take effect as from (and including) 28 September 2018.
Repayment of excess cash
The Company has decided to use excess cash to partially repay certain debt owed to its senior creditors on a pro rata basis. As a part of such repayments, the Company will make an early partial redemption of the Bonds pursuant to Clause 11 (Cash Sweep) of the Terms and Conditions and as further set out below.
SEK Bonds ( ISIN: SE 000 5392560)
The SEK Bonds will be partially redeemed on 28 September 2018 in a total amount of SEK 3,632,491.08, which includes both the amortisation scheduled to be made pursuant to Clause 10 (Amortisation) of the Terms and Conditions (amended as set out above) and the repayment of excess cash descried above. The record date, on which a bondholder must hold SEK Bonds in order to receive the redeemed amount, will be 21 September 2018.
The partial redemption of the SEK Bonds will be made as partial prepayments of all outstanding SEK Bonds by way of reducing the registered Nominal Amount of each SEK Bond with an amount of SEK 28 020. Due to the fact that the Nominal Amount registered with the CSD does not include capitalised interest, the repayment will appear to be made at a price of 102.07813% of the amount by which the registered Nominal Amount will be reduced as a result of the repayment. The amount is rounded down to the nearest SEK 1.00 per SEK Bond.
NOK Bonds (ISIN: NO 001 0689342)
The NOK Bonds will be partially redeemed on 28 September 2018 in a total amount of NOK 2 827 187.88, which includes both the amortisation scheduled to be made pursuant to Clause 10 (Amortisation) of the Terms and Conditions (amended as set out above) and the repayment of excess cash described above. The record date, on which a bondholder must hold NOK Bonds in order to receive the redeemed amount, will be 26 September 2018.
The partial redemption of the NOK Bonds will be made by pro rata payments to the bondholders holding NOK Bonds through redeeming NOK Bonds with a total registered Nominal Amount of 2 762 931.00. Due to the fact that that the outstanding Nominal Amount registered with the CSD does not include capitalised interest, the repayment will appear to be made at a price of 102.325678% of the amount by which the registered Nominal Amount will be reduced as a result of the redemption. The amount is rounded down to effect a pro rata repayment to the bondholders in accordance with the rules of the CSD.
For further information, please contact:
Carmen Wilkinson – Group Secretary
Neil Grobbelaar – Group CEO
This information is information that Real People Investment Holdings Limited is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CET on 13 September 2018.
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
Bombardier Will Fully Cooperate with the AMF Review16.11.2018 00:06 | Pressemelding
MONTRÉAL, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Bombardier acknowledges the announcement by the Autorité des marchés financiers (AMF) that it is reviewing the operations surrounding the establishment by Bombardier of an Automatic Securities Disposition Plan (ASDP) in August 2018 and various subsequent announcements. The ASDP had been reviewed by the AMF prior to its establishment on August 15, 2018. Bombardier intends to fully cooperate with the AMF in its review. The Company has taken the necessary measures to suspend all sales of securities pursuant to the ASDP until further notice. About Bombardier With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montreal, Canada, Bombardier has product
ERYTECH Partners with New York Blood Center for Red Blood Cell Supply and Research15.11.2018 22:05 | Pressemelding
LYON, France and CAMBRIDGE, Mass., Nov. 15, 2018 (GLOBE NEWSWIRE) -- ERYTECH Pharma (Euronext: ERYP - Nasdaq: ERYP), a clinical-stage biopharmaceutical company developing innovative therapies by encapsulating drug substances inside red blood cells, today announced a strategic partnership with New York Blood Center (NYBC) for red blood cell supply and research. The partnership encompasses NYBC becoming a long-term supplier of donor red blood cells (RBC) to ERYTECH, enabling ERYTECH to diversify and broaden its supply of RBC source materials for the production of eryaspase and future product candidates derived from its proprietary ERYCAPS® platform as the company ramps up clinical development. Specifically for the Phase 3 trial in second-line metastatic pancreatic cancer that recently started enrolling patients in Europe, and the Phase 2 trial in first-line triple negative breast cancer (TNBC), which are both expected to begin enrollment in the United States early in 2019. The partnershi
Zageno Deepens Engagement with Scientists and Vendors through Its Meaningful and Unbiased Rating System for Scientific Products — Scientific Score gets Algorithm Update15.11.2018 15:37 | Pressemelding
Call for Contributions: Zageno’s rating system for scientific products — the Scientific Score — adds a crucial dimension to help research scientists purchase the right material for their experiment. Scientists: share your experimental data and professional experience about products; Life Science Vendors: provide additional product-specific resources and data points to make your products reach the right scientist CAMBRIDGE, Mass. USA and BERLIN, Germany, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Zageno Inc., the largest and fastest-growing online marketplace for research materials, today issues an open call for scientists and vendors alike to contribute to the continuous improvement of the Scientific Score. Designed as an unbiased indicator to help purchasing scientists navigate the enormous amount of product information, the Scientific Score is the result of proprietary algorithms calculating and weighing different data points across multiple information formats. Among others, factors like rec
Motiv Ring Expands International Footprint and Delivers Industry-First Sizing Process15.11.2018 15:00 | Pressemelding
The wearable ring lands in 20 new countries and eight new stores, and introduces frictionless sizing method SAN FRANCISCO, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Motiv Inc., creators of breakthrough wearable technology, today announced an increase of its product availability through new international availability and a new digital sizing set alternative. Motiv Ring’s international expansion will be through its website MyMotiv.com. Featured countries include: North America (Canada), Europe (Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, Lithuania, Latvia, Netherlands, Poland, Portugal, Spain, Sweden, United Kingdom, Norway and Switzerland), as well as Japan, Taiwan, Turkey, Australia and New Zealand. Good fit is imperative to great functionality. To date, Motiv Ring users select their sizes after receiving a physical sizing kit in the mail. Releasing in Open Beta , Motiv Ring users will now have the additional option of determining their Motiv size via a
SignalFx Delivers Next Generation of Application Performance Monitoring15.11.2018 15:00 | Pressemelding
The first to enable directed troubleshooting for applications and microservices SAN MATEO, Calif., Nov. 15, 2018 (GLOBE NEWSWIRE) -- SignalFx, the leader in real-time cloud monitoring for infrastructure, microservices, and applications, today unveiled SignalFx Microservices APM™, the industry’s first real-time application performance monitoring solution designed to accelerate troubleshooting for DevOps teams through advanced real-time analytics. Powered by NoSample™ distributed tracing architecture, SignalFx Microservices APM observes every single transaction – not just a small random sample – and reports on every anomaly. With the new Outlier Analyzer™, the most challenging issues can now be pinpointed and resolved with a single click. SignalFx Microservices APM is built on top of SignalFx’s advanced streaming analytics platform for metrics which applies unsurpassed data science in real-time to identify the root cause of critical application problems. Integration with advanced automat
Minerva Neurosciences to Host Roluperidone Update and Key Opinion Leader Discussion of Negative Symptoms in CNS/Psychiatric Diseases on November 20, 201815.11.2018 14:30 | Pressemelding
Minerva management to provide update on Phase 3 clinical trial with roluperidone and single-dose escalation study findings Additional topics to include review of recent BDNF data with roluperidone and KOL discussion of trans-diagnostic approach to treating negative symptoms in CNS/psychiatry diseases WALTHAM, Mass., Nov. 15, 2018 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (NASDAQ: NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today announced that it will host a roluperidone update and key opinion leader event on Tuesday, November 20, 2018 beginning at 8:00 a.m. Eastern Time in New York. Members of Minerva’s senior management will be joined by an expert key opinion leader. Discussions will feature the following speakers and topics: Gregory P. Strauss, Ph.D., Assistant Professor; Director: Clinical Affective Neuroscience Laboratory; Director: Georgia Psychiatric Risk Evaluation Program; Depa
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom