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This announcement does not constitute a prospectus or offering memorandum or an offer in relation to any securities of First Sentinel Plc or of any other entity and should not be considered as a recommendation that any person should subscribe for or purchase any such securities.
This announcement contains inside information for the purposes of the Market Abuse Regulation (EU No. 596/2014) ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain and shall therefore cease to be inside information.
15 October 2020
First Sentinel Plc
(“First Sentinel” or the “Company”)
Issue of up to £7,000,000 sterling denominated
7.5% Secured Bonds due 31 May 2024
to be admitted on Euronext Dublin (“Bonds”)
Issue of the sixth tranche of 1,500,000 Bonds and AQSE Bond Updates
Issue of Bonds
First Sentinel (AQSE: FSEN) announces that it has raised £1,500,000 from the issue of 1,500,000 Bonds at £1 per Bond to an institutional investor. This is the sixth tranche of Bonds to be issued and it is anticipated that the Bonds will commence trading on Euronext Dublin on or around 15 October 2020. The ISIN for the Bonds is GB00BJQZTK49.
The Company announced on 27 June 2019 that it intended to issue up to £7,000,000 sterling denominated 7.5% Secured Bonds due 31 May 2024, to be admitted to trading on the global exchange market operated by Irish Stock Exchange plc, trading as Euronext Dublin. The Company further announced that it expected to issue the Bonds in tranches over the course of 2019 and 2020 and intended to seek admission of the Bonds to trading on Euronext as and when further funds are raised. The Bonds are redeemable each year. A copy of the Information Memorandum in connection with the Bonds is available on the Company’s website at www.first-sentinel.com.
The issue of this sixth tranche will bring the total Bonds in issue to 2,907,042. The Company will make a further regulatory news announcement at the point of any further Bond issue(s).
Redemption of AQSE Bonds
On 1 February 2018, First Sentinel announced that it intended to issue up to £4,000,000 sterling denominated 7.0% Secured Bonds due 28 February 2023, to be admitted to trading on the AQSE Exchange in tranches (“AQSE Bonds”).
First Sentinel announces that it has redeemed 75,000 AQSE Bonds. The redemption price, comprising the principal amount and accrued interest, has been repaid to investors in full. A total of 427,118 AQSE Bonds have been bought back and are currently held in treasury.
About First Sentinel
First Sentinel PLC provides debt financing solutions for small to medium-sized businesses primarily through its supply chain finance and invoice purchasing activities. First Sentinel also invests in a range of secured and unsecured debt instruments in private and public companies.
The Company’s website is www.first-sentinel.com
For further corporate information, please contact:
Mr. Brian Stockbridge
First Sentinel Plc
Tel: + 44 (0) 7876 888 011
AQSE Corporate Advisor
Beaumont Cornish Limited
James Biddle / Roland Cornish
Tel: +44(0)20 7628 3396