G8 Education Limited Announces Results of Invitation as at Expiration Deadline in Connection with the SGD 260,000,000 4.75% Fixed Rate Notes Due 2017
May 16, 2016 at 07:23 pm EDT
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G8 Education Limited announced the reference is made to the announcements made by the Company on 26 April 2016 in relation to the commencement of the tender offer and consent solicitation exercise by the Company and on 10 May 2016 in relation to the results of the Invitation as at the Early Consent Deadline respectively. Capitalised or other terms used but not defined herein shall, unless the context otherwise requires, have the meanings as set out in the invitation memorandum dated 26 April 2016 issued by the Company. The Company announced that as at 10.00 a.m. (Singapore time) on 16 May 2016 (Expiration Deadline), SGD 239,750,000 in aggregate principal amount of the Notes have been validly offered for sale (and not validly withdrawn) pursuant to the Invitation, representing approximately 92.21% of the aggregate principal amount of the Notes outstanding. The Company also announced that as at the Expiration Deadline, holders of SGD 250,000,000 in aggregate principal amount of the Notes, representing approximately 96.15% of the aggregate principal amount of the Notes outstanding, have submitted duly completed Voting Instruction Forms to the Delegate all of which contain Voting Instructions to have their votes cast at the meeting of the Noteholders to be held at 10.00 a.m. (Singapore time) on 18 May 2016, which will be held for considering the Proposal relating to the Notes. The Company inform the Noteholders that it will not be extending the Expiration Deadline. Therefore, the Invitation expired at 10.00 a.m. (Singapore time) on 16 May 2016.
G8 Education Limited is an Australia-based company, which is engaged in operating childcare centers. The Company provides early learning education and care services. Its principal activities include the operation of early education centers owned by the Company and its subsidiaries, and ownership of franchised childcare centers. The Company operates through the management of childcare centers. The Company's portfolio consists of approximately 430 centers under 21 brands in Australia. Its centers provide a total combined licensed capacity of approximately 37,225 places. The Company offers brands include The Learning Sanctuary, buggles, Creative Garden, Great Beginnings, Leor, NutureOne, Penguin Childcare, and World of Learning. Its subsidiaries include Grasshoppers Early Learning Centres Pty Ltd, Togalog Pty Ltd, Bourne Learning Pty Ltd, Ramsay Bourne Licences Pty Ltd, World of Learning Licences Pty Ltd, Shemlex Investment Unit Trust, Kindy Kids Long Day Care and Preschool Trust.