MIDI plc has announced the issue of €50,000,000, 4% Secured Bonds redeemable in 2026, with a face value of €100.
The issue will be split as follows:
- A tranche of €40,832,900 which will be open to holders of the existing MIDI bonds, maturing in 2016/2018 and denominated in EUR and GBP. For such purpose, the value of holdings in GBP bonds will be converted into EUR at a rate of €1: £0.834.
- A tranche of €2,000,000 which will be open to shareholders of MIDI plc as at the 24th of June 2016
The remainder will be allocated to:
- Existing bondholders having applied for bonds in excess of their respective holding in the existing MIDI bonds, maturing in 2016/2018 and denominated in EUR and GBP
- Current shareholders in the case of an over subscription in their reserved tranche of €2,000,000
- Applications submitted by the general public
In the process, the company has resolved to redeem all 7% MIDI plc Bonds 2016/2018 denominated in EUR and GBP on the 15th of December 2016, in accordance with the terms set out in the prospectus.
Applications for Preferred Applicants are currently open, and will close on the 18th of July at 10am. Applications for the general public will open on the 4th of July and will close on the 20th of July at 10am. Applications must be for a minimum value of €2,000 and multiples of €100.
A copy of the prospectus is available HERE
Orders may be placed by contacting us on 25 688 688 or via email on [email protected]