NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, RUSSIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. This announcement does not constitute a prospectus or offering memorandum or an offer in rela-tion 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.
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 fifth tranche of Bonds
Payment of first Quarter interest
Issue 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 approximately AUD$155,000 (GBP87,815) from the issue of 87,815 Bonds at GBP1 per Bond, being the fifth tranche of Bonds to be issued and it is anticipated that the Bonds will commence trading on NEX Exchange on or around 8 June 2018 under the symbol FSBN.
The Company announced on 1 February 2018 that it intended 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 are partially protected by a credit insurance policy provided by Equinox Global, which covers (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 application form can be found on https://first-sentinel.nevilleregistrars.co.uk/
The Company announced that it expected to issue the Bonds in tranches over the course of 2018 and intended 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 issue of this fifth tranche will bring the total Bonds in issue to 1,674,455, The Company will make a further regulatory news announcement at the point of any further Bond issue(s).
The Company is also pleased to announce that the first Quarter’s interest payment has been made to Bondholders.
Furthermore, the Company has issued 500,000 ordinary shares at a price equivalent to 15p per share (“Share Issue”) as consideration for the GBP75,000 of legal fees and services disclosed in the NEX Exchange First Sentinel Bond information memorandum and provided by Colin Maltby, who is a director of the Company.
Following the Share Issue, the Company has 15,196,770 Ordinary Shares in issue, each share carrying the right to one vote. The Ordinary Shares to be issued pursuant to the Share Issue will rank pari passu with existing Ordinary Shares.
The above figure of 15,196,770 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.
Following the issue of the New Shares, the Company is aware of the following changes to holdings required to be disclosed under the Financial Conduct Authority’s Disclosure and Transparency Rules:
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. Brian Stockbridge
Chief Executive Officer
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