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Global Interconnection Group Capital/Financing Update 2025
6319_rns_2025-05-20_0835d9a5-b855-4223-84ff-14dc92d8a65a.pdf
Capital/Financing Update
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GIG
GLOBAL INTERCONNECTION GROUP
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS
THIS PRESS RELEASE CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EU MARKET ABUSE REGULATION.
GLOBAL INTERCONNECTION GROUP LIMITED ("GLOBAL INTERCONNECTION GROUP", "GIG" or the "Company")
GLOBAL INTERCONNECTION GROUP
in respect of
GLOBAL INTERCONNECTION GROUP Ordinary
Shares
ISIN Code GG00BMB5XZ39
Listed on Euronext Amsterdam: XAMS: CABLE
and
ASC Energy plc 2056 Index-Linked Convertible
GreenBonds (ISIN: NL0015001FM1)
Advanced Cables plc 2028 Index-Linked Convertible
GreenBonds (ISIN: NL0015001FN9)
listed on The International Stock Exchange.
20th May 2025
EU – UK Dynamic Alignment of Cross Border Electricity Trading
Extension of the Convertible Loan Note Offer by ASC Energy PLC and Right of First Refusal Process
The Company, the Euronext-listed ultimate parent of ASC Energy PLC, announces an extension to the Right of First Refusal ("RoFR") process for the proposed issuance of new ASC Energy PLC Convertible Loan Notes, maturing in 2056 issued by ASC Energy PLC.
The Board of directors of the Company has today approved the extension to allow certain significant investors to have sufficient time to take the proposal through their internal processes; and in order for the Company to analyse the implications of the UK's decision to dynamically align with the EU on electricity trading, given that this recent announcement of UK-EU alignment could be material to the Company's strategy.
In addition, the extension will allow the Company to progress certain positive strategic initiatives which, if successfully concluded, would be announced prior to the extended offer date, with a view to giving our investors maximum visibility when making their investment decision.
Consequently, investors will be able to decide whether to submit RoFR Purchase Requests for settlement 24th June 2025 in accordance with the revised timetable set out below. If an investor wishes to submit earlier, their submission will be considered and processed on the basis of settlement three business days after receipt of the RoFR Purchase Request.
Importantly, those investors who have already submitted RoFR Purchase Requests in line with the original timetable will now have the opportunity to revisit and, if they choose, revise their elections prior to the updated settlement windows.
The Board expects to provide further updates in connection with any implications of the EU-UK electricity trading alignment and its strategic initiatives as soon as it is permitted to do so.
As set out in the Explanatory Note circulated to eligible investors, the issuer reserves the right to reject any RoFR Purchase Request at its sole discretion.
The expected timetable for investors deciding to submit RoFR Purchase Requests for settlement on 24th June 2025 is as follows:
Final Date for Subscription 18 June (17:00 CEST)
Closing Date 20 June (17:00 CEST)
Closing Allocation and Announcement 23 June 2025
Settlement 24 June 2025
Admission of CLNs to TISE 27 June 2025
Full details of the offer are available on the TISE: https://tisegroup.com/market/news/347163
The Company will provide further updates in due course.
PRESS AND INVESTOR INFORMATION
For more information, please contact:
Company enquiries to:
Registered office
First Floor, 10 Lefebvre Street St Peter Port
Guernsey GY1 2PE
Media inquiries to:
James Culverhouse EQ
+44 20 7223 1100 / +44 7912 508 322