Mandatory Conversion of Convertible Bonds

RNS Number : 2701D

Electra Private Equity PLC

23 October 2015

 



Electra Private Equity PLC

Mandatory Conversion of Convertible Bonds

Electra Private Equity PLC ("Electra") announces that it intends to exercise the mandatory conversion option in its 5 per cent. Subordinated Convertible Bonds due 2017 (the "Bonds").  The exercise of such option will automatically and mandatorily convert all of the outstanding Bonds into new ordinary shares of Electra.  Electra expects to deliver a notice (the "Mandatory Conversion Notice") to holders of the Bonds on or around 2 November 2015 to confirm the exercise of such option and the mandatory conversion of the Bonds is expected to occur on 29 December 2015.

Bondholders should note that this announcement does not constitute a Mandatory Conversion Notice.

Enquiries:

J.P. Morgan Cazenove [phone]

Michael Wentworth-Stanley

William Simmonds

 

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