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COMPANY ANNOUNCEMENT: Early Redemption of Bonds and New Bond Issue 19/07/2017

The following is a Company Announcement by Simonds Farsons Cisk plc pursuant to Listing Rule 5.16 of the Malta Financial Services Authority Listing Rules

  • Early redemption of €15,000,000 6% Simonds Farsons Cisk plc Bonds 2017-2020
  • New Bond Issue

 

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The Board of Directors of Simonds Farsons Cisk plc (“SFC” or the “Company”) has approved the following company announcement.

The Company wishes to announce that on the 19 July 2017 the Board resolved to redeem the €15,000,000 6% Simonds Farsons Cisk plc Bonds 2017-2020 (MT0000071226) (the “Existing SFC Bonds”). The Designated Optional Redemption Date in terms of the Company’s prospectus dated 10 May 2010 shall be 13 September 2017.

The last applicable date for trading in the Existing SFC Bonds will be 28 July 2017.  Trading in the Existing SFC Bonds will be suspended as from 31 July 2017.

Furthermore, the Company announces that it has resolved that an application be submitted to the Listing Authority of the Malta Financial Services Authority (the “Listing Authority”) requesting the admissibility to listing of €20,000,000 Simonds Farsons Cisk plc Unsecured Bonds 2027 (the “New SFC Bonds”) and for an application to be submitted to the Board of Directors of the Malta Stock Exchange (the “Exchange”) for the New SFC Bonds to be admitted to the Official List of the Exchange.

Subject to the attainment of the necessary regulatory approvals and subject to certain conditions, the Company intends to give preference to the holders of the Existing SFC Bonds who indicate their willingness to surrender their existing holding, in part or in whole, in consideration of their application for the New SFC Bonds.

The Company will provide further information on the application process in respect of the New SFC Bonds and further information on the issue of the New SFC Bonds following the necessary approval by the Listing Authority.

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Antoinette Caruana
Company Secretary