TIDMCNMI

RNS Number : 5111I

Camper & Nicholsons Marina Inv Ltd

20 June 2017

Camper & Nicholsons Marina Investments Limited

("CNMI"or the "Company")

CNMI's Maltese subsidiary Grand Harbour Marina PLC announces proposed issue of new bonds and redemption of existing bonds

CNMI advises that Grand Harbour Marina plc ("GHM"), in which CNMI owns 79.2% of the equity, has made the following announcement:

"GHM hereby announces that it has submitted an application to the Listing Authority of the Malta Financial Services Authority (the "Listing Authority") requesting the admissibility to listing of EUR15,000,000 Unsecured Bonds redeemable in 2027 (the "New Bonds"). Application has also been made for the New Bonds to be listed on the Malta Stock Exchange.

Furthermore, GHM announces that the Board of Directors has resolved to redeem all the outstanding 7% Grand Harbour Marina p.l.c. 2017-2020 bonds (ISIN: MT0000321217) (the "Existing Bonds") in full on 22 August 2017, which Existing Bonds were issued by GHM pursuant to a prospectus dated 25 January 2010 (the "Prospectus").

The redemption of the Existing Bonds is being made in accordance with the provisions of the Prospectus which enables GHM to redeem the Existing Bonds on any date falling between and including 25 February 2017 and 25 February 2020, on giving at least sixty (60) days' notice in writing to the bondholders, which notice of redemption has been issued.

Redemption of the Existing Bonds at their nominal value together with interest accrued up to and including 21 August 2017 shall be made on the basis of the respective registers at the Central Securities Depositary of the Malta Stock Exchange as at close of business on the 23 June 2017 (the "Record Date"), which includes trading up to 21 June 2017. Trading in the Existing Bonds shall be suspended as from the 22 June 2017.

Subject to regulatory approval, the intention of GHM is that a fixed amount of the New Bonds is reserved to holders of the Existing Bonds as at Record Date who will be granted the opportunity to surrender and cancel all or part of their Existing Bonds in exchange for New Bonds. GHM also intends to reserve a fixed amount of the New Bonds for the shareholders of GHM holding shares as at Record Date. Further information on the New Bonds will be available after the attainment of the necessary approvals by the Listing Authority."

The initial announcement regarding the 7% Grand Harbour Marina p.l.c. 2017-2020 bonds was made by GHM on 20 January 2010.

For further information contact:

 
 Camper & Nicholsons Marina 
  Investments Limited 
 Sir Christopher Lewinton               Tel: +44 (0)1481 
  / Clive Whiley                             711144 
 
 finnCap Ltd 
 Christopher Raggett / Emily             Tel: +44 (0)20 
  Watts                                     7220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFLMITMBIBBIR

(END) Dow Jones Newswires

June 20, 2017 02:00 ET (06:00 GMT)

Camper & Nic. (LSE:CNMI)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Camper & Nic. Charts.
Camper & Nic. (LSE:CNMI)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Camper & Nic. Charts.