First Sentinel PLC - Update on NEX Bond Admission date
RNS Number : 9814F
First Sentinel PLC
27 February 2018
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, RUSSIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

 

This announcement does not constitute a prospectus or offering memorandum or an offer in relation to any securities of First Sentinel Plc or of any other entity and should not be considered as a recommendation that any person should subscribe for or purchase any such securities.

This announcement contains inside information for the purposes of the Market Abuse Regulation (EU No. 596/2014) ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain and shall therefore cease to be inside information.

 

 

27 February 2018

 

First Sentinel Plc

("First Sentinel" or the "Company")

 

Issue of up to £4,000,000 sterling denominated

 7.0% Secured Bonds due 28 February 2023 ("Bonds")

 

Extension of the issue date of the first tranche to around 7 March 2018

 

First Sentinel Plc ("First Sentinel" or the "Company") (NEX: FSEN), the alternative investment company focused on providing growth capital for public and private company investments, announces that it has received applications from high net worth and family office investors and to allow investors more time to participate in the first tranche, it has extended the deadline for the issue of the first tranche of Bonds by approximately one week.  Interest on the first tranche of Bonds will accrue from 28 February 2018.

 

The Company announced on 1 February that it intends to issue up to £4,000,000 sterling denominated 7.0% Secured Bonds due 28 February 2023, to be admitted to trading on the NEX Exchange Growth Market. The Bonds are redeemable each year, and at a 5% premium if held to maturity, and Bondholders' interests will be partially protected by a credit insurance policy provided by Equinox Global, which will cover (subject to a £1 million aggregate cap per policy year) the risk of insolvency of certain underlying debtors of the Company's subsidiary, Perennial Enterprise PTY Ltd. Accordingly, the Company published the Information Memorandum in connection with the Bonds, a copy of which is available from the Company's website at www.first-sentinel.com.

 

The Company announced that it expects to issue the Bonds in tranches over the course of 2018 and intends to make an application for admission of the Bonds to trading on the NEX Exchange Growth Market ("Admission").  As at the date of this announcement, it is not known how many Bonds will be issued within the first tranche and issued on Admission. The Company will make a further regulatory news announcement once the number of Bonds is known and thereafter at the point of any further Bond issue(s).

 

About First Sentinel

First Sentinel is an alternative investment company, registered with the FCA as a small authorised UK AIFM, which provides growth capital for public and private company investmentsFirst Sentinel invests in a range of debt and equity instruments in target portfolio companies.

 

The Company's website is www.first-sentinel.com

 

For further corporate information, please contact:

 

Mr. Kris Kottmeier

VP Corporate Development

UK/Euro Tel: +44 (0) 20 3637 6522

North America Tel: +1 (604) 506-2502

Email:  Kris@first-sentinel.com

 

Mr. Brian Stockbridge

CEO

First Sentinel Plc

Tel: + 44 (0) 7876 888 011

 

NEX Corporate Advisor

Beaumont Cornish Limited

James Biddle / Roland Cornish

Tel: +44(0)20 7628 3396

 

 


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