Launch of 5.5% Retail Bond

RNS Number : 5660K

CLS Holdings PLC

22 August 2012

 

The information contained herein may only be released, published or distributed in the United Kingdom, Jersey and Guernsey and Isle of Man. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document. The bonds may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958.

CLS Holdings plc

("CLS", the "Company" or the "Group")

Launch of 5.5% Retail Bond

In line with its strategy to diversify its sources of funding, CLS Holdings plc is launching a 5.5% retail bond redeemable in 2019 available to retail investors.

The bonds pay a fixed rate of interest of 5.5% per year until 31 December 2019. During the life of the bond, investors can sell the bonds at any time (within market hours and in normal market conditions) on the open market through their stockbroker. The bonds are expected to be listed on the London Stock Exchange ("LSE") and to trade on the LSE's Order Book for Retail Bonds.

The bonds are expected to be issued on 11 September 2012 and interest will accrue from the issue date. Interest is paid in half-yearly instalments. The bond offer is expected to remain open until 4 September 2012 but may close earlier. The bonds can be bought and sold by investors through stockbrokers or wealth managers.

Canaccord Genuity Limited will act as the manager.

For further information please see CLS Holdings plc website: http://www.clsholdings.com 

For media enquiries please contact:

CLS Holdings plc                                                         [phone]

www.clsholdings.com 

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman

Richard Tice, Chief Executive Officer

Smithfield Consultants                                     [phone]

Alex Simmons

Andrew Wilde

Canaccord Genuity

Mark Glowrey                                                                [phone]

Henrietta Podd  

Notes to editors:

·      The bonds may not be suitable for all investors. Investors should ensure they fully understand the risks and seek independent financial advice.

·      Investors should note that the price of the bonds can rise and fall during the life of the investment and the price of the bonds could fall below the issue price of £100.

·      In the event that CLS Holdings plc defaults, becomes insolvent or goes out of business investors may lose some or all of their investment.

Disclaimer

This announcement is not a prospectus for the purposes of EU Directive 2003/71/EC (the "Directive") and/or Part VI of the Financial Services and Markets Act 2000. Investors should not subscribe for any bonds referred to in this announcement except on the basis of information in the Prospectus. Full information on CLS Holdings plc and the offer of the bonds is only available on the basis of the combination of the Prospectus to be published in respect to the bonds and the Sizing Announcement. Investors may obtain copies of the Prospectus and the Sizing Announcement (once published) on the website of the Regulatory News Services operated by the London Stock Exchange.

The offering and the distribution of this announcement and other information in connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession this announcement or any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase. Any purchase of bonds pursuant to the offer should   only   be   made   on   the   basis   of  the   information contained in the Prospectus, available as described above.

The bonds have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act") and, subject to certain exceptions, may not be offered, sold or delivered within the United States. The bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act, and are subject to certain U.S. tax law requirements.

 

END

 

 

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