DGAP-News
Aroundtown Property Holdings Plc. : Launches pre-IPO convertible bond offering
Aroundtown Property Holdings Plc. / Key word(s): Miscellaneous
27.04.2015 02:19
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN PROPERTY HOLDINGS PLC
Launches pre-IPO convertible bond offering
27 April 2015.
The Board of Directors of Aroundtown Property Holdings PLC (the "Company")
has decided to issue senior, unsecured convertible bonds convertible into
new ordinary shares having a par value of EUR 0.01 (the "Shares") of the
Company (the "Bonds"). The Bonds (each with denomination of EUR 100,000)
will be offered only to institutional investors outside the United States,
Australia, Japan, South Africa and any other jurisdiction in which offers
or sales of the Bonds would be prohibited by applicable law (the
"Offering").
The Offering will comprise a placing of Bonds by the Company, with a total
placement volume of up to EUR 300 million and initially convertible into up
to approximately 84.99 million Shares, representing up to approximately
14.5% of the fully diluted share capital of the Company (subject to any
adjustment of the conversion ratio pursuant to the terms and conditions of
the Bonds).
The Bonds will have a maturity of five years. The Bonds will be issued at
95.68% of their principal amount, will carry a nominal coupon of 3% p. a.,
payable semi-annually in arrear, and will be redeemed at maturity at par.
The initial conversion price will be set at a conversion premium of 30.74%
above the reference share price. Settlement of the Offering is expected to
take place on or around 1 May 2015.
The Company intends to apply for the inclusion of the Bonds to trading on
the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.
The Company intends to use the amount raised in the Offering to fund the
Company's growth strategy.
The Company is also considering, subject to market conditions, to admit to
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA
OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN PROPERTY HOLDINGS PLC
Launches pre-IPO convertible bond offering
27 April 2015.
The Board of Directors of Aroundtown Property Holdings PLC (the "Company")
has decided to issue senior, unsecured convertible bonds convertible into
new ordinary shares having a par value of EUR 0.01 (the "Shares") of the
Company (the "Bonds"). The Bonds (each with denomination of EUR 100,000)
will be offered only to institutional investors outside the United States,
Australia, Japan, South Africa and any other jurisdiction in which offers
or sales of the Bonds would be prohibited by applicable law (the
"Offering").
The Offering will comprise a placing of Bonds by the Company, with a total
placement volume of up to EUR 300 million and initially convertible into up
to approximately 84.99 million Shares, representing up to approximately
14.5% of the fully diluted share capital of the Company (subject to any
adjustment of the conversion ratio pursuant to the terms and conditions of
the Bonds).
The Bonds will have a maturity of five years. The Bonds will be issued at
95.68% of their principal amount, will carry a nominal coupon of 3% p. a.,
payable semi-annually in arrear, and will be redeemed at maturity at par.
The initial conversion price will be set at a conversion premium of 30.74%
above the reference share price. Settlement of the Offering is expected to
take place on or around 1 May 2015.
The Company intends to apply for the inclusion of the Bonds to trading on
the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.
The Company intends to use the amount raised in the Offering to fund the
Company's growth strategy.
The Company is also considering, subject to market conditions, to admit to