GlobalCapital plc – Information to maintain a fair market

GlobalCapital plc (the’Company’) issued the following Company Announcement.

On the 6th May 2015 the Board announced that a conditional offer by EIP plc (“EIP”) was made to acquire the entire shareholding held by BAI Co (Mtius) Ltd (“BAI”) in the Company. On the 15th July 2015 the Company was further informed by EIP that BAI and EIP had entered into a share purchase agreement (the “Share Purchase Agreement”) for the purchase by EIP of a 48.45% shareholding interest in the Company. 

Further reference to the Share Purchase Agreement was made by the Company in Note 1 to the financial statements for the year ended 31st December 2014 as approved on 7th August 2015 (the “Financial Statements”) and in the Interim Directors’ Report for the six months ended 30th June 2015 as approved on 28 August 2015 (the “Interim Report”). 

On the evening of the 15th September 2015 the Company was informed by EIP that the Share Purchase Agreement expired on 10th September 2015 and that by such date some, but not all, of the completion conditions were fulfilled. Furthermore the Company has also been informed by EIP that since the expiry of the Share Purchase Agreement it had received no further communication from BAI and that no new agreement has so far been executed between EIP and BAI. Accordingly the Company is informed that the original transaction contemplated in the Share Purchase Agreement has not been completed at this time.

EIP has also informed the Company, however, that it is still intent on acquiring a shareholding in the Company and that EIP remains intent to support the Company up to the sum of €15,000,000 in any capital increases which the Company

intends to make.

To view the official Company Announcement, click here.