AI assistant
MedservRegis Plc Capital/Financing Update 2024
2071_rns_2024-12-10_aaab943d-0a60-47e7-aad5-0672da32757f.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
COMPANY ANNOUNCEMENT MEDSERVREGIS P.L.C. (THE "COMPANY")
Bond Buy Back
| Date of Announcement | 10 December 2024 |
|---|---|
| Reference | 314/2024 |
| Capital Markets Rule | CMR5.16 |
Reference is made to company announcement 312/2024, wherein the market was notified that the Board of Directors of the Company was in the process of evaluating the possibility of effecting a share and/or bond buy back. The Board of Directors has considered the matter and has resolved that it will not, for the time being carry out a share repurchase programme but will immediately proceed with a repurchase of the Company's bonds on the terms set out hereunder.
Accordingly, the Company wishes to announce that it stands in the market to repurchase a maximum of Euro5,000,000.00 (or the equivalent in U.S. Dollars, in so far as the USD Bonds are concerned) in the following bonds issued by the Company:
- (i) 4.50% 2026 (EUR) Unsecured Bonds bearing ISIN MT0000311234 (the EUR Bonds);
- (ii) 5.75% 2026 (USD) Unsecured Bonds bearing ISIN MT0000311242 (the USD Bonds); (the Bonds)
The Bond repurchase programme is being carried out by the Company for the purpose of utilizing the Company's free cash to reduce its leverage ratio and interest costs.
The present programme shall apply between the date of this announcement until the 14th February 2025 at a price reflective of either the nominal value per Bond (€100.00 for the EUR Bonds, or USD100.00 for the USD Bonds) or the highest price of the last independent trade or the highest current bid.
The Company shall, on an ongoing basis, provide information to the market and to the Malta Financial Services Authority on the trades carried out by the Company within the context of the said buy-back programme.
Laragh Cassar Company Secretary