GO plc has announced that Cablenet Communication Systems Limited, a Cypriot telecommunications provider, operating in and from Cyprus and in which the company holds 60.26% of the issued share capital, is in advanced preparations in respect of a proposed public issue in Malta of 4% unsecured bonds with an aggregate principal amount of up to €40,000,000.
If approved by the board of directors of Cablenet, an application will be submitted to the Maltese Listing Authority requesting the admissibility to listing of the bonds and to the board of directors of the Malta Stock Exchange for the bonds to be admitted to the Official List of the Exchange.
Furthermore, the company is pleased to announce that, should Cablenet proceed with the issuance of the bonds, a yet to be determined portion of the bonds will be available for subscription by the company’s shareholders on a preferential basis.
As the proposed issuance of the bonds is subject to a number of conditions, including but not limited to conversion to a public limited liability company and approvals by the Maltese Listing Authority and the Exchange, it may or may not materialise.
The company will make further announcement(s) in respect of the issuance and listing of the bonds as and when appropriate.