Camper & Nicholsons Marina Inv Ltd Grand Harbour Marina plc Bond Update (2166J)

TIDMCNMI

RNS Number : 2166J

Camper & Nicholsons Marina Inv Ltd

27 June 2017

Camper & Nicholsons Marina Investments Limited

("CNMI"or the "Company")

CNMI's Maltese subsidiary Grand Harbour Marina PLC announces approval of issue of new bonds

CNMI advises that Grand Harbour Marina plc ("GHM"), in which CNMI owns 79.2% of the equity, has made the following announcement:

"GHM hereby announces that it has received regulatory approval for the issue of EUR15,000,000 4.50% Unsecured Bonds redeemable in 2027, having a nominal value of EUR100 per bond, to be issued at par (the "New Bonds").

A maximum amount of EUR11,000,000 of the proceeds raised from the issue of the New Bonds will be used by GHM for the purpose of redeeming any 7% Grand Harbour Marina p.l.c. 2017-2020 bonds (ISIN: MT0000321217) (the "Existing Bonds") remaining in issue as at close of business of 23 June 2017 (trading session of 21 June 2017) (the "Cut-Off Date"). Accordingly, an aggregate amount of EUR11,000,000 in New Bonds is being reserved for subscription by the holders of the Existing Bonds as at Cut-Off Date (the "Existing Bondholders"). The Existing Bondholders will be granted preference to subscribe to the New Bonds by surrendering the Existing Bonds subject to any cash top-up necessary to bring the minimum application amount per Existing Bondholder to EUR2,000. Furthermore, GHM has also reserved an aggregate amount of EUR2,000,000 for subscription by holder of shares in GHM as at the Cut-off Date (the "Existing Shareholders").

An aggregate amount of EUR2,000,000 and any balance of the New Bonds not subscribed to by the Existing Bondholders or the Existing Shareholders as aforesaid (the "Balance"), has been reserved for subscription by Selected Authorised Financial Intermediaries through an Intermediaries' Offer.

The New Bonds are expected to be admitted to the Official List of the Malta Stock Exchange on 22 August 2017, and trading is expected to commence on 23 August 2017.

Full details on the issue of the New Bonds are set out in the Prospectus dated 26 June 2017, copies of which may be obtained electronically on GHM's website (en.cnmarinas.com/grand-harbour-marina/) shortly or from the Authorised Financial Intermediaries specified in the Prospectus as from 12 July 2017. Pre-printed Application Forms shall be mailed to Existing Bondholders (Application Forms 'A') and Existing Shareholders (Application Forms 'B') on 11 July 2017.

The initial announcement regarding the Existing Bonds was made by GHM on 20 January 2010.

For further information contact:

 
 Camper & Nicholsons Marina 
  Investments Limited 
 Sir Christopher Lewinton               Tel: +44 (0)1481 
  / Clive Whiley                             711144 
 
 finnCap Ltd 
 Christopher Raggett / Emily             Tel: +44 (0)20 
  Watts                                     7220 0500

This information is provided by RNS

The company news service from the London Stock Exchange

END

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