Proposed early redemption of retail bond

RNS Number : 0437T

CLS Holdings PLC

29 June 2018

 

Release date:                29 June 2018

Embargoed until:            Immediate release

CLS Holdings plc

("CLS")

Proposed early redemption of

£65 million 5.50 per cent. Bonds due 2019

(the "Bonds")

Further to the announcement dated 14 June 2018, CLS announces that it has exercised its option to redeem early all of the outstanding Bonds (ISIN: XS0820711215) pursuant to Condition 5(c) of the terms and conditions of the Bonds (the "Conditions") and it has now given notice to redeem in accordance with the Conditions.

A copy of the notice of redemption that was published in today's edition of the Financial Times is set out below:

CLS HOLDINGS PLC

(Registered Number:  02714781)

(the "Issuer")

NOTICE TO THE HOLDERS OF

£65,000,000 5.50 per cent. Bonds due 2019

(ISIN:  XS0820711215)

(the "Bonds" and the holders thereof, the "Bondholders")

NOTICE OF REDEMPTION

NOTICE IS HEREBY GIVEN to the Bondholders that, pursuant to Condition 5(c) of the terms and conditions of the Bonds, the Issuer will fully redeem all of the Bonds outstanding on 31 July 2018 (the "Optional Redemption Date").  The redemption price per Bond will be calculated in accordance with Condition 5(c) of the terms and conditions of the Bonds on the Calculation Date, 27 July 2018, and will be announced shortly thereafter.  Interest accrued to (but excluding) the Optional Redemption Date will also be paid.

Following redemption, the listing of the Bonds on the Official List of the FCA and the admission of the Bonds to trading on the Regulated Market of the London Stock Exchange plc will be cancelled.

Words and expressions used in this Notice shall, unless defined herein or the context otherwise requires, have the same meaning as in the terms and conditions of the Bonds.

This Notice is given by

CLS Holdings plc

Dated:  29 June 2018

-ends-

For further information, please contact:

CLS Holdings plc

www.clsholdings.com

Fredrik Widlund, Chief Executive Officer

John Whiteley, Chief Financial Officer

[phone]

Liberum Capital Limited

Richard Crawley

Jamie Richards

[phone]

Whitman Howard

Hugh Rich

[phone]

Elm Square Advisers Limited

Jonathan Gray

[phone]

Smithfield Consultants (Financial PR)
Alex Simmons

[phone]

Disclaimer

The Bonds have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act").  Subject to certain exceptions, the Bonds may not be offered, sold or delivered in the US or to or for the account of US persons (as defined in Regulation S under the Securities Act).

This announcement is for information purposes only and is not a prospectus and does not constitute an offer to subscribe for or buy shares, the Bonds or other securities of CLS (the "Securities") in any jurisdiction.  This announcement and the fact of its distribution is not and should not be seen as an inducement in relation to a decision to purchase Securities.  Investors should not subscribe for or purchase any Bonds except on the basis of information contained in the Prospectus published by CLS, a copy of which can be found at http://www.clsholdings.com/en/ir/BondInformation/ukbond or on the London Stock Exchange website.

 

END

 

 

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