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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.
5 April 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")
Issue of the second tranche of Bonds
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 raised £62,000 (AUD$113,286) from the issue of 61,640 Bonds at £1.00583 per Bond, being the second tranche of Bonds, and it is anticipated that the Bonds will commence trading on NEX Exchange on or around 6 April 2018 under the symbol FSBN. Interest on the second tranche of Bonds will accrue from 28 February 2018 and the issue price has been adjusted to reflect this.
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 application form can be found on https://first-sentinel.nevilleregistrars.co.uk/
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 as and when further funds are raised ("Admission"). The Company will make a further regulatory news announcement 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 investments. First 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: [email protected]
Mr. Brian Stockbridge
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
This information is provided by RNS