George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBCRE.L Regulatory News (BCRE)

  • There is currently no data for BCRE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Issuance and Admission of Convertible Bonds

20 Sep 2016 17:30

RNS Number : 3704K
Brack Capital Real Estate Inv N.V
20 September 2016
 

20 September 2016

BCRE - Brack Capital Real Estate Investments N.V.

(BCRE or the Company)

Issuance of Convertible Bonds and Admission thereof to the Marché Libre

Further to the announcement dated 13 September 2016, the Company is pleased to announce that it has issued 4.25% convertible bonds due 2020 (Convertible Bonds) in an aggregate principal amount of EUR 20,000,000 convertible into ordinary shares in the capital of the Company and may issue an additional principal amount of EUR 10,000,000, subject to having obtained the requisite approvals, bringing the total up to an amount of EUR 30,000,000. A Company's subsidiary purchased EUR 5,300,000 in order to sell such Convertible Bonds in the secondary market to investors which subscribed for the Convertible Bonds or may do so during the coming three weeks. Any such sales by the Company's subsidiary of Convertible Bonds will be duly announced.

Upon exercise of the bondholders' conversion rights at any time during the term of the Convertible Bonds, the bondholders will receive ordinary shares in the capital of the Company at the then prevailing conversion price. The Company will have the option to call for conversion only upon the redemption date or enforcement events. Subject to the adjustment mechanics as referred to in the terms and conditions of the Convertible Bonds, the initial bondholder conversion price is EUR 1.50 and the initial issuer conversion price is EUR 0.70.

The Convertible Bonds are issued at par in a principal amount of EUR 100,000 per Convertible Bond and pay a fixed coupon of 4.25% per annum, payable annually in arrear on 20 September of each year, commencing on 20 September 2017 and will be redeemed, at par on 20 March 2020 (unless previously converted or purchased and cancelled).

Based on the initial bondholder conversion price, the shares in the capital of the Company underlying the Convertible Bonds in an aggregate principal amount of EUR 20,000,000 represent approximately 8.25% of the Company's issued share capital immediately prior to the issuance, and any conversion, of the Convertible Bonds.

The net proceeds of the issuance of the Convertible Bonds are intended to be used for the refinancing of existing or future debt upon or prior to their maturity, to make investments and/or for general corporate purposes.

A copy of the terms and conditions of the Convertible Bonds are available for inspection at the Company's website http://www.brack-capital.com.

Application has been made for the admission of the Convertible Bonds to the Marché Libre segment of Euronext Paris S.A. on or about 21 September 2016. The listing notice of Euronext Paris S.A. is available for inspection at: https://www.euronext.com/nl/listings/notices.

 

ENQUIRIES:

BCRE - Brack Capital Real Estate Investments N.V.

Ariel Podrojski, Chief Executive Officer

Nansia Koutsou, Chief Financial Officer / Chief Operating Officer

+31 20 514 1004

Novella Communications

Tim Robertson

Toby Andrews

+44 203 151 7008

 

DISCLAIMER - INTENDED ADDRESSEES

The Convertible Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (Securities Act) and are subject to US tax law requirements. Subject to certain exceptions, the Convertible Bonds may not be offered, sold or delivered in the United States or to or for the account of US persons (as defined in Regulation S under the Securities Act).

No prospectus is required in accordance with directive 2003/71/EC, as amended, for the issue and offering of the Convertible Bonds.

This announcement is for information purposes only and is not a prospectus and does not constitute an offer to subscribe for or buy Convertible Bonds or other securities of the Company (Securities) in any jurisdiction. This announcement and the fact of its distribution is not and should not be seen as an inducement in relation to a decision to purchase Securities.

The contents of this announcement have been prepared by and are the sole responsibility of the Company.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCURVVRNAAKUAR
Date   Source Headline
12th Apr 20191:30 pmRNSUpdate on the de-listing and listing
20th Mar 20196:00 pmRNSTimetable regarding the de-listing and listing
28th Feb 20193:00 pmRNSSale of Bowery project completed
28th Feb 201912:31 pmRNSSale of BCRE REIT properties completed
28th Feb 201912:30 pmRNSResults of Extraordinary General Meeting
16th Jan 20192:30 pmRNSPosting of notice of EGM
10th Jan 20194:30 pmRNSUpdate regarding the de-listing
20th Dec 20185:30 pmRNSDirectorate Change
20th Nov 20181:30 pmRNSFurther extension of the convertible loan notes
6th Nov 20188:02 amRNSTransactions under share buyback programme
5th Nov 20188:00 amRNSTransactions under share buyback programme
30th Oct 20188:00 amRNSTransactions under share buyback programme
23rd Oct 201812:30 pmRNSShare buyback programme
22nd Oct 201811:30 amRNSBCRE enters into agreement to sell REIT properties
11th Oct 201812:30 pmRNSSale of Orchard project completed
25th Sep 20186:00 pmRNSInterim Results 2018
24th Sep 20188:00 amRNSUpdate on the de-listing and listing
21st Sep 20182:30 pmRNSUpdate on the de-listing and listing of shares
23rd Aug 20183:15 pmRNSTimetable regarding the de-listing and listing
17th Aug 20181:00 pmRNSResults of Extraordinary General Meeting
6th Jul 20185:20 pmRNSPosting of notice of EGM
6th Jul 20184:30 pmRNSNotice of EGM
6th Jul 20187:00 amRNSDe-Listing, New Listing, Share Buy-back
11th Jun 20188:30 amRNSBCRE enters into agreement to sell Orchard project
7th Jun 20183:30 pmRNSResults of Annual General Meeting 2018
26th Apr 20186:00 pmRNSFinal results 2017, Directorate change and AGM
29th Mar 20181:00 pmRNSBCRE enters into agreement to sell Bowery project
23rd Mar 20182:00 pmRNSBank loans refinancing completion in Russia
6th Feb 20182:15 pmRNSManagement changes and strategic plan
28th Dec 20175:30 pmRNSRefinancing of bank loans in Russia - extension
15th Dec 201711:00 amRNSBCRE Update
12th Dec 20173:00 pmRNSBonds Credit Rating Update
1st Dec 20175:00 pmRNSRefinancing of bank loans in Russia - extension
24th Nov 20174:00 pmRNSNotice of early repayment of loan
23rd Nov 20176:30 pmRNSNotice of early redemption of bonds
22nd Nov 20175:00 pmRNSContemplated notice of early redemption of bonds
20th Oct 20173:00 pmRNSBCRE explores a possible De-Listing
28th Sep 20178:15 amRNSHalf-year Report
14th Sep 20172:00 pmRNSUpdate on the interim results and trading update
11th Aug 201711:30 amRNSRefinancing of Bank loans in Russia - extension
30th Jun 201712:30 pmRNSResults of Annual General Meeting 2017
14th Jun 201712:45 pmRNSCompleted the sale of shares in BCP
24th May 20176:29 pmRNSCredit rating review
23rd May 20176:30 pmRNSFinancial Report of BCP for First Quarter 2017
23rd May 201710:15 amRNSSale of shares in Brack Capital Properties N.V.
22nd May 20176:00 pmRNSAssociate undertaking dividend policy
18th May 20175:30 pmRNSNotice of AGM
28th Apr 20176:29 pmRNSFinal Results 2016
18th Apr 20176:29 pmRNSPublication of Trading Update
30th Mar 20176:30 pmRNSAssociate undertaking presentation for 2016

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.