ANNOUNCEMENT OF RESULTS AS AT THE EXPIRATION DEADLINE IN CONNECTION WITH THE PROPOSED INVITATION (THE “INVITATION”) TO THE HOLDERS OF THE OUTSTANDING S$100,000,000 7.35% SUBORDINATED PERPETUAL SECURITIES (ISIN: SG6PF6000006) (THE “EXISTING SECURITIES”) ISSUED BY THE ISSUER TO….
VIBRANT GROUP LIMITED
(Incorporated in the Republic of Singapore on 8 January 1986) (the “Issuer”)
29 September 2017
ANNOUNCEMENT OF RESULTS AS AT THE EXPIRATION DEADLINE IN CONNECTION WITH THE PROPOSED INVITATION (THE “INVITATION”) TO THE HOLDERS OF THE OUTSTANDING S$100,000,000 7.35% SUBORDINATED PERPETUAL SECURITIES (ISIN: SG6PF6000006) (THE “EXISTING SECURITIES”) ISSUED BY THE ISSUER TO OFFER TO EXCHANGE ANY AND ALL OUTSTANDING EXISTING SECURITIES FOR A LIKE PRINCIPAL AMOUNT OF SINGAPORE DOLLAR-DENOMINATED 7.50% NOTES DUE 2020 (THE “NEW NOTES”) TO BE ISSUED BY THE ISSUER PURSUANT TO ITS S$500,000,000 MULTICURRENCY DEBT ISSUANCE PROGRAMME (THE “PROGRAMME”)
Reference is made to the announcements made by the Issuer on 14 September 2017 in relation to the commencement of the Invitation by the Issuer. Capitalised or other terms used but not defined herein shall, unless the context otherwise requires, have the meanings as set out in the exchange offer memorandum dated 14 September 2017 (the “Exchange Offer Memorandum”) issued by the Issuer.
The Issuer wishes to announce that as at 12.00 p.m. (Singapore time) on 28 September 2017 (“Expiration Deadline”), S$29,500,000 in aggregate principal amount of the Existing Securities have been validly offered for exchange (and not validly withdrawn) pursuant to the Invitation, representing 29.5% of the aggregate principal amount of the Existing Securities outstanding.
The Issuer does not intend, and will not be extending the Expiration Deadline. Therefore, the Invitation has expired as at 12.00 p.m. (Singapore time) on 28 September 2017.
The Issuer wishes to announce that all the Offered Securities will be accepted for exchange by the Issuer on the terms and conditions set forth in the Exchange Offer Memorandum. The aggregate principal amount of Offered Securities accepted for exchange by the Issuer amounts to S$29,500,000.
The Settlement Date of the Offered Securities accepted for exchange by the Issuer is expected to take place on 3 October 2017.
Application has been made to the SGX-ST for the listing and quotation of the New Notes on the SGX- ST. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of the SGX-ST and quotation of the New Notes on the SGX-ST is not to be taken as an indication of the merits of the Issuer, its subsidiaries, its associated companies (if any), its joint venture companies (if any), the Programme or the New Notes.
By Order of the Board
Vibrant Group Limited
Executive Director & CEO
NOTE: This announcement does not constitute an invitation to participate in the Invitation. No offer or invitation to issue or redeem any securities is being made pursuant to this release. This announcement must be read in conjunction with the Exchange Offer Memorandum. This announcement does not constitute or form part of, and should not be construed as, an offer for sale or subscription of, or a solicitation of any offer to buy or subscribe for, any securities of the Issuer or any other entity.
Vibrant Group Limited published this content on 29 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 29 September 2017 08:24:04 UTC.