8 Jan 2019 15:32
January 8, 2019
Re: Notice of Updated and Adjusted Interest Rate
Further to the announcement of Matomy Media Group Ltd. (the "Company") regarding its financial statements for the third quarter of 2018, (published on TASE on January 1, 2019 Reference: 2019-02-000529) accordance to which the Company's shareholders equity is USD27,345,000 the Company hereby announces that pursuant to Section 5.23.1 of the Deed of Trust signed on January 31, 2018 between the Company and Reznik, Paz, Nevo Trusts Ltd., in respect of the bonds (series A) of the Company (Reference: 2018-02-009336) (the "Deed of Trust" and the "Bonds" respectively), and as a result of the shareholders equity being lower than USD50 Million, the interest rate on the outstanding balance of the Principal of the Bonds will be increased by 0.5%.
Below are details required to be published pursuant to Section 5.23.2 of the Deed of Trust:
1. The Bonds were issued bearing an annual interest of 5.5% (the "Basic Interest").
2. The interest rate for the period commencing on the first day of the Current Interest Period (as defined in the Deed of the Trust) namely July 1, 2018 through September 30, 2018, (calculated on the basis of 365-day year and the actual number of days in such period i.e. 92 days) shall be 1.386%.
3. The interest rate the Principal shall bear for the period commencing on October 1, 2018 and through December 31, 2018 (the "December Interest Rate"), shall be 1.512%. (calculated on the basis of 365-day year and the actual number of days in such period i.e. 92 days).
4. The weighted interest rate deriving from the aforementioned in section 2 and 3 equals 2.899%.
5. The weighted interest rate presented in section 4 above reflects an annual weighted interest rate of 5.751%.
6. The updated annual interest rate and the semi-annual interest rate for the period commencing on the December Interest Rate will be 6% and 3% respectively.
7. The updated interest rate of the Bonds will remain in effect until the earlier of (1) the full repayment of the Principal and (2) the date on which the shareholders equity shall be equal to or higher than USD50 Million.
In light of certain ambiguity in the terms of the Deed of Trust in connection with the determination which bondholder will be eligible for receipt of the additional interest due for the period commencing on October 1, 2018 and through December 31, 2018, the Company is working with Trustee, in order to determine the record date of the bond holders eligible to receive such additional interest. The Company will provide further updates on the agreed record date for receipt of such additional interest.
The above calculations do not take into account any default interest (to the extent applicable) or any interest already paid on account of the relevant period (i.e. July 1, 2018 through December 31, 2018) and therefore, the interest rate mentioned in section 4 above will be reduced by the interest already paid.
About Matomy
Matomy Media Group Ltd. (LSE: MTMY, TASE: MTMY.TA) is a global media company. Founded in 2007 with headquarters in Tel-Aviv, Matomy is dual-listed on the London and Tel Aviv Stock Exchanges.
For more information:
Matomy Media GroupPamela Becker, VP Global Marketingpamela.b@matomy.com+972-74-7161971
Press Contact Information:
Noam Yellin, Noam@smartteam.co.il, +972544246720
Website: http://investors.matomy.com LinkedIn: www.linkedin.com/Company/matomy-media-group
Twitter: @MatomyGroup
Facebook: www.facebook.com/MatomyMediaGroup