FSGL: Announcement on Conversion and Cancellation in part of the Series 2 Perpetual Convertible Capital Securities
September 16, 2020 at 12:35 am EDT
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General Announcement::Announcement by Associated Company, First Sponsor Grou... Page 1 of 1
GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY ASSOCIATED COMPANY, FIRST SPONSOR GROUP LIMITED
Issuer & Securities
Issuer/ Manager
CITY DEVELOPMENTS LIMITED
Securities
CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09
Stapled Security
No
Announcement Details
Announcement Title
General Announcement
Date &Time of Broadcast
16-Sep-2020 12:17:16
Status
New
Announcement Sub Title
Announcement by Associated Company, First Sponsor Group Limited
Announcement Reference
SG200916OTHR749J
Submitted By (Co./ Ind. Name)
Enid Ling Peek Fong
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
First Sponsor Group Limited ("FSGL"), an associated company, has on 15 September 2020 released an announcement relating to Conversion and Cancellation in part of the Series 2 Perpetual Convertible Capital Securities.
For details, please refer to the announcement released by FSGL on the SGX website www.sgx.com
CONVERSION AND CANCELLATION IN PART OF THE SERIES 2 PERPETUAL CONVERTIBLE CAPITAL SECURITIES
The board of directors ("Board") of First Sponsor Group Limited ("Company") refers to the announcements dated 3 September 2020 ("3 September Announcement") and 8 September 2020 issued by the Company.
Unless otherwise defined herein or the context otherwise requires, all capitalised terms used in this Announcement shall bear the same meanings ascribed to them in the 3 September Announcement.
Pursuant to Rule 324(1) of the listing manual of the SGX-ST, the Board wishes to announce that between 9 September 2020 and the date of this Announcement, an additional S$7,788,246.70 in aggregate principal amount of Series 2 Convertible Securities, representing approximately 5.3 per cent. of the Initial Aggregate Principal Amount, have been converted into Ordinary Shares and cancelled.
Accordingly, as at the date of this Announcement, a total of S$142,997,168.60 in aggregate principal amount of Series 2 Convertible Securities, representing approximately 96.8 per cent. of the Initial Aggregate Principal Amount, have been converted into Ordinary Shares and cancelled.
Holders of the Series 2 Convertible Securities should note that the Company has given notice that it will redeem all, and not some only, of the outstanding Series 2 Convertible Securities on 8 October 2020. Please refer to the sections titled "Full Redemption of Series 2 Convertible Securities", "Conversion of Series 2 Convertible Securities" and "Important Notice for Holders of Existing Securities" in the 3 September Announcement for further information.
For and on behalf of the Board
Neo Teck Pheng
Group Chief Executive Officer and Executive Director
15 September 2020
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CDL - City Developments Ltd. published this content on 16 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2020 04:34:03 UTC
City Developments Limited is a Singapore-based global real estate company with a network spanning approximately 143 locations in 28 countries and regions. Its portfolio comprises residences, offices, hotels, serviced apartments, student accommodation, retail malls and integrated developments. The Company's segments include Property development, Hotel operations, Investment properties and Others. The Property development segment is engaged in developing and purchasing properties for sale. The Hotel operations segment owns and manages hotels. The Investment properties segment is engaged in developing and purchasing investment properties for lease. The Others segment comprises investment in shares, management and consultancy services, and provision of laundry services. The Company has developed over 50,000 homes and owns around 21 million square feet of gross floor area in residential for lease, commercial and hospitality assets globally, and it has over 150 hotels worldwide.