FINAL RESULTS
ANNOUNCEMENT
THIS
ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014 AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018.
FOR
DISTRIBUTION ONLY TO PERSONS WHO ARE OUTSIDE THE UNITED STATES AND
TO PERSONS OTHER THAN "U.S. PERSONS" (AS DEFINED IN REGULATION S OF
THE UNITED STATES SECURITIES ACT OF 1933). NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR
RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
RELEASE, PUBLISH OR DISTRIBUTE THIS DOCUMENT.
Date: 8 November 2024
Final Results
Announcement
in respect of the Offer
by
GFH FINANCIAL GROUP
B.S.C.
("GFH" and the "Obligor")
to each holder of
the
U.S.$500,000,000 Certificates due
2025
(issued in two tranches of
U.S.$300,000,000 and U.S.$200,000,000
on 28 January 2020 and 8 June 2020,
respectively)
issued by
GFH Sukuk Company
Limited
(the "Issuer" and the "Trustee")
(ISIN: XS2100582142; Common Code:
210058214)
(the "Certificates")
On 4 November 2024, GFH published an early
results announcement (the "Early
Results Announcement") relating, among other things, to its
offer to purchase for cash any and all of the Issuer's outstanding
Certificates upon the terms set out in the tender and consent
solicitation memorandum dated 21 October 2024 (the "Tender and Consent Solicitation
Memorandum").
The Early Results Announcement stated that GFH
had accepted for purchase all Certificates validly tendered in
relation to the Offer as of the Early Deadline, representing
U.S.$408,412,000 in aggregate face amount
of Certificates (being 81.68 per cent. of U.S.$500,000,000
aggregate face amount of Certificates). Such Certificates were
accordingly purchased by GFH and redeemed on the Early Settlement
Date, being 6 November 2024.
The Expiration Date in respect of the Offer
occurred at 4:00 p.m. (London Time) on 7 November 2024.
Following the Early Deadline and as of the
Expiration Date, the aggregate face amount of Certificates validly
tendered was U.S.$4,250,000 and GFH has elected to accept for
purchase and settle such further Certificates on the Late
Settlement Date. The Late Settlement Date shall be 12 November
2024, whereupon GFH will pay the Late Tender Consideration of
U.S.$1,000 per U.S.$1,000 in aggregate face amount of such
Certificates together with Due Periodic Distribution Amounts up to
(but excluding) the Late Settlement Date.
The Offer has now expired and no further
Certificates will be accepted for purchase pursuant to the
Offer.
Accordingly, U.S.$87,338,000 in aggregate face
value of Certificates will remain outstanding following the Late
Settlement Date.
Capitalised terms used in this announcement but
not defined have the meanings given to them in the Tender and
Consent Solicitation Memorandum.
All documentation related to the Offer is
available on (https://projects.sodali.com/gfh)
(the "Transaction
Website"), subject to registration and eligibility
confirmation.
Sodali & Co is the Information, Tender and
Tabulation Agent.
Information, Tender and Tabulation
Agent
Sodali & Co
You may also contact your broker, dealer,
commercial bank, custodian, trust company or other nominee for
assistance concerning the Offer.
Any questions regarding the terms of the Offer
should be directed to the Solicitation Agents and Dealer Managers
at the details set forth below:
SOLICITATION AGENTS AND
DEALER MANAGERS
Emirates NBD Bank
PJSC c/o Emirates NBD Capital
Limited
L07-04
Level 7, ICD Brookfield Place DIFC, Dubai, UAE
|
J.P. Morgan Securities
plc
|
Standard Chartered
Bank 1 Basinghall Avenue
London EC2V 5DD
|
25 Bank
Street
Canary Wharf
London E14 5JP
|
|
|
|
|
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Telephone: +971 4 303 2800
|
Telephone: + 44 20 7134 2468
|
Telephone: +44 20 7885 5739
|
Email:
dcmsf@emiratesnbd.com
|
Email:
em_europe_lm@jpmorgan.com
|
Email:
Liability_Management@sc.com
|
|
|
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This
announcement is released by GFH Financial Group B.S.C. and contains
information that may have qualified as inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014
as it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 (UK MAR) For the purposes of UK MAR and
Article 2 of Commission Implementing Regulation (EU) 2016/1055 as
it forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018, this announcement is made by Salah Sharif,
Chief Operating Officer of GFH Financial Group
B.S.C.
THIS
ANNOUNCEMENT IS NOT AN OFFER TO PURCHASE, A SOLICITATION OF AN
OFFER TO PURCHASE, AN OFFER TO SELL OR A SOLICITATION OF AN OFFER
TO SELL ANY CERTIFICATES.
This
announcement contains important information. If any holder of
Certificates is in any doubt as to the action it should take, it is
recommended to seek its own advice, including as to any tax
consequences, from its stockbroker, bank manager, solicitor,
accountant or other independent adviser.
None of GFH,
the Issuer, the Solicitation Agents and Dealer Managers, the
Information, Tender and Tabulation Agent, the Delegate or any of
their respective directors, officers, employees, agents or
affiliates is acting for any Certificateholder, or will be
responsible to any Certificateholder for providing any protections
which would be afforded to its clients or for providing advice in
relation to the Offer and/or the Consent
Solicitation.