GO plc – Cablenet Communications System Limited

GO p.l.c. (“the Company”) ssued the following Company Announcement pursuant to Malta Financial Services Authority Listing Rules. 

Further to the Company Announcement issued on the 4th September 2014, whereby the Company announced that it had acquired 25% of the issued share capital of Cablenet, the Company announces that at a Board Meeting held earlier today, it was agreed to proceed with the option of converting into equity the loan provided to Cablenet. Through the conversion of the €12,000,000 loan, the Company’s shareholding in Cablenet will increase from the current 25% to 45% of the issued share capital of Cablenet.

The Company further announces that it will also exercise the option included in the Share Purchase Agreement to acquire a further 6% of the issued share capital of Cablenet thus increasing the Company’s shareholding in Cablenet to 51% in order to acquire majority control in Cablenet.  

To view the official Company Announcement, click here.