Source - RNS
RNS Number : 5378K
Damac Real Estate Dev Ltd
11 April 2018
 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the United States) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS DOCUMENT.

Damac Real Estate Development Limited
announces indicative results of tender offer in respect of the
outstanding U.S.$650,000,000 Trust Certificates due 2019
issued by Alpha Star Holding Limited

 

11 April 2018. Damac Real Estate Development Limited (the Company) today announces the indicative results of its invitation to the holders of the outstanding U.S.$650,000,000 Trust Certificates due 2019 issued by Alpha Star Holding Limited (ISIN: XS1054932154) (the Certificates) to tender such Certificates for purchase by the Company for cash (the Offer).

The Offer was announced on 3 April 2018 and was made on the terms and subject to the conditions described in the tender offer memorandum dated 3 April 2018 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the Tender Offer Memorandum.

Expected Final Acceptance Amount

As at the Expiration Deadline, the Company had received valid tenders of U.S.$181,367,000 in aggregate face amount of the Certificates for purchase pursuant to the Offer.

In the event that the Company decides to accept valid tenders of Certificates pursuant to the Offer, subject to satisfaction of the New Financing Condition (as described in the Tender Offer Memorandum), the Company expects to set the Final Acceptance Amount at U.S.$181,367,000. Accordingly, the Company expects to accept for purchase the Certificates tendered with no pro rata scaling.

Certificateholders should note that this is a non-binding indication of the level at which the Company expects to set the Final Acceptance Amount.

As soon as reasonably practicable following the pricing of the New Certificates, the Company will announce whether it will accept (subject to satisfaction of the New Financing Condition on or prior to the Settlement Date) valid tenders of Certificates pursuant to the Offer and, if so accepted, the Final Acceptance Amount.

The Settlement Date in respect of the Certificates accepted for purchase pursuant to the Offer is expected to be 19 April 2018.

Barclays Bank PLC, Emirates NBD PJSC and HSBC Bank plc are acting as Dealer Managers and Lucid Issuer Services Limited is acting as Tender Agent.

Contact Details

DEALER MANAGERS

Barclays Bank PLC

5 The North Colonnade

Canary Wharf

London E14 4BB

United Kingdom

Telephone: +44 20 3134 8515

Email: [email protected]
Attention: Liability Management Group

Emirates NBD PJSC

c/o Emirates NBD Capital Limited

Gate Building, West Wing, Level 12

Dubai International Financial Centre

P.O. Box 506710

Dubai

United Arab Emirates

Telephone: +971 4303 2800

Email: [email protected]

Attention: Debt Capital Markets

HSBC Bank plc

8 Canada Square

London E14 5HQ

United Kingdom

Telephone: +44 (0) 207 992 6237

Email: [email protected]

Attention: Liability Management Group

TENDER AGENT

Lucid Issuer Services Limited
Tankerton Works
12 Argyle Walk
London WC1H 8HA
United Kingdom

Telephone: +44 20 7704 0880

Attention: Arlind Bytyqi

Email: [email protected]

This announcement is released by Damac Real Estate Development Limited and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Kartik Jain and Santosh Vishwanath at Damac Real Estate Development Limited.

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

Disclaimer

This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement.  The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law.  Persons into whose possession this announcement and/or the Tender Offer Memorandum comes are required by each of the Company, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.

None of the Dealer Managers, the Tender Agent, the Delegate and any of their respective directors, officers, employees, agents or affiliates assumes any responsibility for the accuracy or completeness of the information concerning the Company, the Certificates or the Offer contained in this announcement or in the Tender Offer Memorandum. None of the Dealer Managers, the Tender Agent, the Delegate and any of their respective directors, officers, employees, agents or affiliates is acting for any Certificateholder, or will be responsible to any Certificateholder for providing any protections which would be afforded to its clients or for providing advice in relation to the Offer, and accordingly none of the Dealer Managers, the Tender Agent, the Delegate and any of their respective directors, officers, employees, agents or affiliates assumes any responsibility for any failure by the Company to disclose information with regard to the Company or the Certificates which is material in the context of the Offer and which is not otherwise publicly available.

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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