Statement re Offer Acceptance (1016D)
16 Março 2011 - 2:55PM
UK Regulatory
TIDM69WK
RNS Number : 1016D
Tabreed 08 Financing Corporation
16 March 2011
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, THE CAYMAN
ISLANDS OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE
REPUBLIC OF ITALY(SEE "OFFER AND DISTRIBUTION RESTRICTIONS"
BELOW)
16 March 2011
National Central Cooling Company PJSC announces the acceptance
of its tender offer to the holders of the outstanding
AED1,700,000,000 Trust Certificates due 2011 (ISIN:
XS0359799136) of
Tabreed 08 Financing Corporation
On 2 March 2011 National Central Cooling Company PJSC (Tabreed)
invited holders of the AED 1,700,000,000 Trust Certificates due
2011 (ISIN: XS0359799136) of Tabreed 08 Financing Corporation (the
Certificateholders, the Certificates and the Issuer, respectively)
to tender their Certificates for purchase by Tabreed (the Offer).
The Offer expired at 4:00 p.m. (London time) on 16 March 2011 (the
Tender Deadline). Tabreed announced today the successful completion
of the Offer and its acceptance for purchase of the Certificates
validly tendered in the Offer by the Tender Deadline.
As of the Tender Deadline, Tender Instructions have been
received by the Tender Agent in respect of an aggregate face amount
of AED1,528,820,000 of Certificates or 89.93% of the aggregate face
amount of the Certificates outstanding. Accordingly, the
Extraordinary Resolution will be passed at the Meeting and the
modifications to the terms and conditions of the Certificates (the
Conditions) to be implemented pursuant to the Proposal (as defined
below) will be made.
The Offer was made on the terms and subject to the conditions
contained in the Tender Offer Memorandum dated 2 March 2011 (the
Tender Offer Memorandum) and this announcement should be read in
conjunction with the Tender Offer Memorandum and the announcement
by Tabreed dated 2 March 2011. Capitalised terms used but not
otherwise defined in this announcement shall have the meanings
given to them in the Tender Offer Memorandum. Tabreed and the
Issuer have separately invited Certificateholders to approve, among
other things, certain modifications to the Conditions (the
Proposal), as more fully described in the Tender Offer
Memorandum.
Settlement of the Offer and the implementation of the Proposal
will be conditional on the completion by Tabreed of its
Recapitalisation Programme (or the satisfaction or waiver of the
relevant conditions to such completion) on the terms outlined in
the Tender Offer Memorandum and to certain other conditions as set
out in the Tender Offer Memorandum. The expected settlement date
for the Offer is 21 April 2011.
Morgan Stanley & Co. International plc is acting as Dealer
Manager. Lucid Issuer Services Limited is acting as Tender Agent.
For detailed terms of the Offer and the Proposal please refer to
the Tender Offer Memorandum, copies of which can be obtained from
the Tender Agent referred to below.
Dealer Manager
Morgan Stanley & Co. International plc
25 Cabot Square
Canary Wharf
London E14 4QA
United Kingdom
Telephone: +971 4 363 4829
Attention: Yavar Moini
Email: tandem_ecm@morganstanley.com
Tender Agent:
Lucid Issuer Services Limited
Leroy House
436 Essex Road
London N1 3QP
United Kingdom
Telephone: +44 20 7704 0880
Fax: +44 20 7067 9098
Attention: Sunjeeve Patel / Thomas Choquet
Email: tabreed@lucid-is.com
DISCLAIMER
Neither this announcement nor the Tender Offer Memorandum
constitutes an offer to buy or the solicitation of an offer to sell
Certificates. The distribution of this announcement and the Tender
Offer Memorandum in certain jurisdictions may be restricted by law.
Persons into whose possession this announcement or the Tender Offer
Memorandum comes are required by each of Tabreed, the Issuer, the
Dealer Manager and the Tender Agent to inform themselves about and
to observe any such restrictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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