Premier Capital Plc – Payment of Interest

April 12, 2017
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

Reference is made to the interest payment effected by Premier Capital p.l.c.(the “Company”) on 15 March 2017 to holders of 6.80 o Bonds 2017-2020 as atclose of  business  on  21  October  2016  (ISIN:  MT0000511205)   (the  “Exchangeable Bonds”) who had elected to subscribe  to  the  3.75% Bonds 2026 (the“Bonds”) by transferring to the Issuer the ExchangeableBonds.

The interest payment should haveincluded:

(i) accrued interest at 6.80/  for the period  16 March 2016 to 22   November 2016 (252 days);and

(ii) 3.05% (being the difference between the interest rate of 6.8%applicable to the Exchangeable Bonds and the interest rate of 3.75% applicable  to the Bonds) for the period 23 November 2016 to 15 March 2017(113 days).

This interest payment was made to all bondholders who, pursuant to the prospectus dated 21 October 2016, had exercised their option to subscribe for Bonds by transferring their Exchangeable Bonds to the Company.

The Company also settled to same bondholders the interestof  3.750/p accruing on the Bonds for the period 23 November 2016 to 15 March2017.

Furthermore, the Company will also be compensating those bondholderswho acquired the Bonds on the Malta Stock Exchange between 14 March 2017 and11 April 2017 (both days included), with 113 days accrued interest (the periodfrom 23 November 2016 to 15 March 2017) at 3.750 o on the nominal value ofthe Bonds so transacted. The payment will be effected by no later than  28  April 2017.

As such, the Company has also decided to anticipate payment of the interestof 3.75% due on the Bonds, for the period 23 November 2016 to 15 March 2017,to all remaining holders of the Bonds as at close of business on 15 March 2017.The payment will be effected by no later than 28 April2017.

In this manner, the Company will have settled interest of 3.75% to all holdersof the Bonds up to 15 March2017.

Consequently, the next interest payment due on 23 November  2017 willcover the period 16 March 2017 to 22 November 2017 (252days).