7 Oct 2009 15:13
NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OR ITALY.
SUBEX LIMITED EXTENDS THE EXPIRATION DEADLINE RELATING TO ITS INVITATION TO THE HOLDERS OF ITS OUTSTANDING US$180 MILLION 2.00% COUPON CONVERTIBLE UNSECURED BONDS DUE 2012 TO EXCHANGE THEIR BONDS FOR NEW US DOLLAR-DENOMINATED 5.00 PER CENT CONVERTIBLE UNSECURED BONDS DUE 2012
Mumbai, 7 October 2009 - Subex Limited (the "Company") has today published the following announcement: 1. In accordance with paragraph 11 of the "Terms of the Exchange Offer" (the "Exchange Offer Terms") set out in the Exchange Offer Memorandum dated 25 September 2009 (the "Exchange Offer Memorandum"), the Expiration Deadline has been extended to 12.00 p.m. (London time) on 14 October 2009. The Company expects to issue another announcement on or before 14 October 2009 which will, amongst other things, (i) provide background for the extension of the Expiration Deadline and (ii) set out changes to the date for the announcement of the results of the Exchange Offer and the Settlement Date. 2. In accordance with paragraph 11(c) of the Exchange Offer Terms, Electronic Exchange Applications already submitted will remain valid and binding notwithstanding the amendments set out in this announcement.
Capitalised terms used in this announcement bear the same meanings ascribed to such terms in the Exchange Offer Memorandum and the terms and conditions of the Existing Bonds.
This announcement is to be read in conjunction with the Exchange Offer Memorandum and any other announcements made following the date of the Exchange Offer Memorandum.
Requests for information in relation to the Exchange Offer should be directed to the Dealer Manager:
Barclays Bank PLC
Telephone: +65 6308 3175 or +852 2903 2776
Email: projectstanford@barclayscapital.com
THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY IN THE UNITED STATES OR IN ANY OTHER JURISDICTION, AND NONE OF THE SECURITIES TO BE ISSUED PURSUANT TO THE EXCHANGE OFFER, IF CONSUMMATED, MAY BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR IN ANY OTHER JURISDICTION WHERE SUCH SALE IS PROHIBITED. THE COMPANY DOES NOT INTEND TO REGISTER ANY OF THE SECURITIES TO BE ISSUED PURSUANT TO THE EXCHANGE OFFER IN THE UNITED STATES.