ATLAS Mara Limited Statement re conversion price adjustment of bonds (2987L)
July 17 2017 - 11:11AM
UK Regulatory
TIDMATMA
RNS Number : 2987L
ATLAS Mara Limited
17 July 2017
NOT FOR DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES
17 July 2017
ATLAS MARA LIMITED
Notice of adjustment of the Conversion Price of U.S.$63,400,000
and U.S.$17,400,000 8.00 per cent Secured Convertible Bonds due
2020 (Rule 144A ISIN: XS1298407229; Regulation S ISIN:
XS1297883214) (together, the "Bonds")
Please be advised that further to its announcement on 21 June
2017 in relation to the strategic financing agreement reached with
Fairfax Africa Holdings Corporation and the issuance of $200
million of new capital comprising a $100 million equity offering of
new Ordinary Shares and a $100 million mandatory convertible bond
issuance (the "Mandatory Convertible Bonds"), Atlas Mara Limited
has, in accordance with the terms and conditions of the Bonds (the
"Terms and Conditions"), given notice to the Trustee and the
Bondholders that the Conversion Price per Ordinary Share in respect
of the Bonds has been adjusted in accordance with the Terms and
Conditions in order to reflect the issuance of the Mandatory
Convertible Bonds (the "Adjustment"). The Adjustment becomes
effective on 17 July 2017 (the "Effective Date"). Prior to the
Effective Date, the Conversion Price per Ordinary Share was
U.S.$10.89. The adjusted Conversion Price per Ordinary Share,
computed in accordance with Condition 7(b)(vi) of the Terms and
Conditions, is U.S.$10.51.
Capitalised terms not otherwise defined in this announcement
shall have the meanings given to them in the Terms and
Conditions.
For further information, please contact:
Investors
John-Paul Crutchley, +971 4 275 6000
Kojo Dufu, +1 212 883 4330
Media
Teneo Blue Rubicon, +44 (20) 7260 2700
Anthony Silverman
DISCLAIMER - INTENDED ADDRESSEES
This announcement does not constitute an offer of any securities
for sale.
The Bonds and any ordinary shares which may be delivered upon
conversion of the Bonds have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act").
The distribution of this announcement in certain jurisdictions
may be restricted by law. Persons into whose possession this
announcement comes are required to inform themselves about and to
observe any such restrictions.
This announcement has been prepared solely for information
purposes and is not an offer (or a solicitation of an offer) to buy
or sell any securities in any jurisdiction.
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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