Following the announcement issued on the 9 December 2015, Medserv p.l.c has announced the issue of a total of €30,000,000 Unsecured Bonds redeemable in 2026 in any one or a combination of:
a) 5.75% USD Unsecured Bonds redeemable in 2026 of a nominal value of $100 each issued at par (minimum investment and retention amount per investor of $55,000);
b) 4.5% Euro Unsecured Bonds redeemable in 2026 of a nominal value of €100 each issued at par (minimum investment and retention amount per investor of €50,000).
The Bonds shall be initially offered to financial intermediaries for subscription. In the event that the Bonds are not subscribed in full by the said intermediaries, the Company shall make available the amount unsubscribed to investors by way of a public offer.
Pursuant to the rights issue, the Company is offering 10,000,000 ordinary shares by way of rights to shareholders on the register of the Company at the Central Securities Depository of the Malta Stock Exchange as at the 29 December 2015 (meaning trading up to and including 23 December 2015) (the “Record Date”) at the share offer price of €1.50 per ordinary share (“Share Offer Price”). The rights issue will be made on the basis of 2 new ordinary shares for every 9 existing ordinary shares held.
Mr Anthony S. Diacono and Malampaya Investments Limited (together owning 75% of the issued share capital of the Company) are making an offer to financial intermediaries of their entitlement to a) 3,750,000 new ordinary shares in the case of Anthony S. Diacono and b) 2,625,000 new ordinary shares in the case of Malampaya Investments Limited at the Share Offer Price. Malampaya Investments Limited has agreed to subscribe to 1,125,000 new ordinary shares, representing 30% of its rights.
If subscribed to the full at the Share Offer Price, the rights issue will raise gross proceeds of Euro15,000,000.
Any lapsed rights from the rights issue will be offered to financial intermediaries during an intermediaries offer.
Application has also been made to the MSE for the New Ordinary Shares and the Bonds issued pursuant to this Prospectus to be admitted to trading on the MSE’s Regulated Market and to be listed on the Official List of the MSE. The Listing Authority has also approved the prospectus to be issued in connection with the above described dual issue.