The following is a company announcement issued by AST Group p.l.c. (the “Company”) bearing company registration number C 66811, in terms of the Capital Markets Rules issued by the MFSA.
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Admission to Listing – €8,500,000 6.25% Secured Bonds 2033 and Constitution of Collateral
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Reference is made to the company announcement issued by the Company on the 9 June 2023, wherein the Company informed the public that the €8,500,000 6.25% Secured Bonds 2033 (the “New Bonds”) were subscribed in full and allocated amongst the Existing AST Bondholders and Authorised Intermediaries (as both defined in the Prospectus) in accordance with the terms of the Prospectus dated 20 April 2023.
The Company announces that the Security Trustee has changed from the Security Trustee indicated in the Prospectus and the appointed security trustee is VB Onyx Limited, a private limited liability company incorporated in Malta and having company registration number C105362, which company shall hold the Collateral in accordance with the terms of the Prospectus and the Security Trust Deed for the benefit of the Bondholders qua security trustee.
As regards the security rights constituted in respect of the 2018 AST Prospects MTF Bonds, in terms of the Company Admission Document dated 4 December 2017, the Company hereby announces that the said security rights were cancelled with effect from today the 16 June 2023, and in lieu thereof the Collateral (as defined in the Prospectus) was duly constituted in favour of the security trustee for the benefit of Bondholders today, the 16 June 2023, as security for the fulfilment of the Issuer’s obligations under the New Bonds. The said Collateral includes, specifically, the registration of a first priority mortgage on the MV AST Malta in the Malta ship registry in favour of VB Onyx Limited, in its capacity as security trustee of the AST Trust II for the benefit of Bondholders, which was registered also on the 16 June 2023.
Accordingly, the 2018 AST Prospects MTF Bonds (as defined in the Prospectus) have been redeemed today the 16 June 2023 and the New Bonds have been admitted to listing on the Official List of the Malta Stock Exchange today the 16 June 2023, and trading is expected to commence on 19 June 2023.
Interest on the New Bonds at the rate of 6.25% per annum has commenced today the 16 June 2023 and shall be payable annually in arrears on the 16 June of each year, with the first interest payment falling due on 16 June 2024 (covering the period 16 June 2023 up to and including 15 June 2024).
The Company wishes to thank the investing public, particularly Existing AST Bondholders, and authorised financial intermediaries for their strong support in this bond issue.
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Katia Cachia
Company Secretary
16 June 2023
