Primecity Investment Plc
Primecity Investment Plc: Proposed tap issue of convertible bonds by EUR 50 million

Primecity Investment Plc  / Key word(s): Miscellaneous

05.02.2015 21:27

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
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The issuer / publisher is solely responsible for the content of this announcement.

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THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD
BE UNLAWFUL.

PrimeCity Investment plc

Proposed tap issue of convertible bonds by EUR 50 million

February 5, 2015 - PrimeCity Investment plc (the "Company") announces today
that it is considering, subject to market condition, carrying out a tap
issue of the Company's 4%, senior, secured convertible bonds convertible
into new and/or existing ordinary shares having a par value of EUR 0.10
(the "Shares") of the Company ("Convertible Bonds") by issuing additional
Convertible Bonds with a total nominal value of EUR 50 million ("Further
Convertible Bonds"). The total aggregate principal amount of the
Convertible Bonds will thereby increase to EUR 150 million. The Further
Convertible Bonds will be issued at an offer price to be determined by a
bookbuilding process.

The net proceeds will be used to fund the Company's acquisitions and
investment into the existing hotel portfolio.

The Company intends to apply for the inclusion of the Further Convertible
Bonds to trading on the Open Market (Freiverkehr) of the Frankfurt Stock
Exchange.

The Further Convertible Bonds will be placed only to institutional
investors in selected European countries in reliance on Regulation S of the
US Securities Act 1933, as amended, by way of a private placement. There
will be no public offering. The Further Convertible Bonds will be merged
with the existing Convertible Bonds and will form a single series under the
existing ISIN XS1137260086.

About PrimeCity Investment 

The Company (ISIN: CY0104972217) is a public limited liability company
incorporated under the laws of Cyprus, having its registered office at 
Faros Avenue, Spyros Thalassines Alkyonides - Percolia PC 7560 Larnaca,
Cyprus and being registered with the registrar of companies in Cyprus under
number HE 151151.

The Company is a specialist hotel investment company focused on investing
in and repositioning mismanaged Hotel portfolios primarily in Germany. The
hotel properties are located in key locations which enjoy high tourism,
business and exhibitions, such as Berlin, Frankfurt, Dresden, Düsseldorf,
Baden-Baden and Leipzig. For more information please refer to the Company's
website www.prime-city.com.

Contact:

Christian Hupfer (CFO)
PrimeCity Investment Plc 
Shop2, Faros Avenue
Spyros Thalassines Alkyonides
Percolia PC 7560, Larnaca - CYPRUS
www.prime-city.com 

 

Disclaimer: 

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION
OF AN OFFER TO BUY ANY SECURITIES.

THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT
BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED
STATES.

THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE
UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS
RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE
"ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY
OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER,
AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL
SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS
COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE
NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE
ENGAGED IN ONLY WITH RELEVANT PERSONS.

IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA"), THIS ANNOUNCEMENT
AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE
"QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE
2003/71/EC, AS AMENDED (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED
INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER
(AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE
DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY
INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY
SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF
PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES
BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS
WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR
ANY OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS
DIRECTIVE.

THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS
AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES,
FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH
STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT
TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF
PRIMECITY INVESTMENT PLC. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING
ON A NUMBER OF FACTORS.

 


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