FES Finance Plc notifies the Bond Holders.
The following is a company announcement issued by FES Finance p.l.c. pursuant to Rule 4.11.13 of the Prospects Rules.
The Board of Directors of the FES Finance p.l.c. (the Company) announces that the Company will be calling upon investors, holding as at close of business on 31 October 2019, the €5 million bonds issued in terms of Company Admission Document dated 6 March 2019, holding ISIN number: MT0002231208 (the “Bonds”) for a meeting at 18:00 hours on 20 November 2019 at the AX The Victoria Hotel, Gorg Borg Olivier Street, Sliema, SLM 1807.
The agenda of the meeting shall be as follows:
- Appointment of Chairperson and Secretary of the meeting
- Notice of meeting
- Change in use of proceeds
The Board of Directors of the Company proposes to change the use of proceeds from the Secured Bonds originally allocated for the acquisition of the St. Julian’s site by means of an emphyteutical grant and to develop same into a boutique hotel. Further details may be found in Appendix A attached hereto.
5.Fresh bond issue to be fully fungible with the Secured Bonds and revision to security securing the Secured Bonds
The Company further proposes to issue a new bond for a total of three million and eight hundred thousand euro (€3,800,000) which would become fully fungible with the Secured Bonds whilst revising the security securing the Secured Bonds. Further details may be found in Appendix B attached hereto.
The Company shall be convening the meeting of Bondholders by notice in writing over the coming days which shall include details explaining the purpose for the matters being proposed.
BONDHOLDERS ON THE REGISTER AS AT THE CLOSE OF BUSINESS ON 31 OCTOBER 2019 SHALL BE ELIGIBLE TO RECEIVE NOTICE, ATTEND AND VOTE AT THAT MEETING.
By Order of the Board
Announcement issued by:
Dr Reuben Debono
5 November 2019
Fes-Finance-Plc - half-yearly-financials-2020Download At a meeting of the Board of Directors the Group Accountant presented the half yearly financials to the board, which were unanimously approved.