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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.
27 February 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”)
Extension of the issue date of the first tranche to around 7 March 2018
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 received applications from high net worth and family office investors and to allow investors more time to participate in the first tranche, it has extended the deadline for the issue of the first tranche of Bonds by approximately one week. Interest on the first tranche of Bonds will accrue from 28 February 2018.
The Company announced on 1 February that it intends to issue up to GBP4,000,000 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 GBP1 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 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 (“Admission”). As at the date of this announcement, it is not known how many Bonds will be issued within the first tranche and issued on Admission. The Company will make a further regulatory news announcement once the number of Bonds is known and thereafter 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
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