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 rules of Prospects MTF, a market regulated as a multi-lateral trading facility and operated by the Malta Stock Exchange.
ISSUE OF NEW BONDS
QUOTE
Reference is made to company announcement published on 17 April 2023 in relation to the submission of an application by the Company to the Malta Financial Services Authority (the “MFSA”) requesting the admissibility to listing on the Official List of the Malta Stock Exchange of a maximum of €8,500,000 6.25% secured bonds redeemable in 2033 (the “New Bonds”), to be issued at par.
The Issuer hereby announces that it has received regulatory approval from the MFSA for the issue of the New Bonds and has been granted authorisation for the admissibility to listing of the New Bonds on the Official List of the Malta Stock Exchange.
Subject to the approval of the holders of the €2,000,000 5.5% unsecured bonds 2028 (ISIN: MT0001701201) of a nominal value of €100 per bond, issued at par by the Company pursuant to and in accordance with the terms and conditions set out in the company admission document dated 4 December 2017 and listed and trading on the Prospects MTF List of the Malta Stock Exchange (the ‘AST Prospects MTF Bonds’) for the early redemption of the AST Prospects MTF Bonds, part of the proceeds of the New Bonds shall be used by the Company for the purpose of redeeming the AST Prospects MTF Bonds.
The Company shall be calling a meeting of the holders of the AST Prospects MTF Bonds (the “Existing AST Bondholders”) to consider the early redemption of the AST Prospects MTF Bonds in terms of the company admission document dated 4 December 2017. In the event that the Existing AST Bondholders approve the early redemption of the AST Prospects MTF Bonds, then the Existing AST Bondholders may elect to subscribe for New Bonds through the transfer to the Company of all or part of the AST Prospects MTF Bonds held by them as at a specified date as determined in the Prospectus.
For the purposes of the above, the Company shall consider the Existing AST Bondholders to be those bondholders appearing on the applicable register held at the Malta Stock Exchange Central Securities Depositary as at 25 April 2023 (trading session of 21 April 2023). The AST Prospects MTF Bonds shall cease trading on the Prospects MTF List of the Malta Stock Exchange on close of business of 21 April 2023.
Further details in connection with the afore-mentioned meeting of the Existing AST Bondholders shall be made available by means of a separate company announcement to be issued for the purpose.
Full details of the New Bonds, and the bond issue generally, are set out in the Prospectus dated 20 April 2023 which will be available on the Issuer’s website (www.astgroupplc.com) from tomorrow, 21 April 2023.
UNQUOTE
Katia Cachia
Company Secretary
20 April 2023
