24 Jun 2019 07:00
June 23, 2019
Re: Notice of Updated and Adjusted Interest Rate and Additional One-Time Interest Payment
Further to the announcement of Matomy Media Group Ltd. (the "Company") annual financial statements for the year ending on December 31, 2018, (published on TASE on March 31, 2019 Reference: 2019-02-030301) and pursuant to Section 5.23.1 of the Deed of Trust signed on January 31, 2018 between the Company and the trustee of the bonds (series A) of the Company, in respect of the bonds (series A) of the Company (Reference: 2018-02-009336) (the "Deed of Trust", the "Trustee" and the "Bonds" respectively), the interest rate on the outstanding balance of the Principal of the Bonds will be increased by an additional 0.5% (the "Additional Interest Rate") (and the updated annual interest rate shall be 6.5%), since the Adjusted EBITDA, as such term is defined in the Deed of Trust, was lower than USD10 Million (USD2.9 million).
In addition, further to the Company's notice of updated and adjusted interest rate (published on TASE on January 8, 2019 Reference: 2019-02-003079), the Company announces that following its discussions with the Trustee, a one-time payment for the additional interest due for the period commencing on October 1, 2018 and through December 31, 2018 in the amount of NIS 150,116.44 will be added to the next interest payment due on June 30, 2019.
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 "Base Interest").
2. The one-time interest rate the Principal shall bear for the period commencing on January 1, 2019 and through June 30, 2019, shall be 3.399% (calculated on the basis of 365-day year and the actual number of days in such period i.e. 180 days).
3. The updated annual interest rate and the semi-annual interest rate for the period commencing on the July 1, 2019 and through December 31, 2019 will be 6.5% and 3.25%, respectively.
4. The aforementioned sections 1 and 2 above reflects an annual weighted interest rate of 6.649%.
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 and/or the Adjusted EBITDA shall be equal to or higher than USD10 million.
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.
Press Contact Information:
Noam Yellin, Noam@smartteam.co.il, +972544246720
Website: http://investors.matomy.com