RNSS
Proposal
Renaissance has successfully completed the repurchase of first tranche of Mandatory Convertible Bonds (MCBs). In accordance with the Resolution passed in the General Meeting of the holders of the Mandatory Convertible Bonds on July 6, 2015, the Company wishes to repurchase the second tranche of MCBs (representing 50% of the remaining MCBs) at a repurchase price of RO 0.151 from its MCB holders. For detailed workings on the repurchase price, please refer Appendix I of the document in:
http://www.renaissance-oman.com/pdf/Announcement_for_second_tranche_of_MCBs.pdf
Mechanism
Gulf Baader Capital Markets (“GBCM”) will be the sole authorized broker (the “Broker”) for completion of the repurchase program for the second tranche of MCBs. GBCM will be responsible for executing the buy and sell transaction for the Company and MCB holders respectively. MCB holders who are interested in participating in the Scheme will be required to submit a duly filled MCB Sale Authorization Form with the Broker. The MCB Sale Authorisation Form is available at the Broker’s website – www.gbcmoman.net or can contact them as per the following details:
| Talal Suleiman Al Balushi Tel. +968 24790614 (Extn: 565) GSM: +968 99267286 Email: [email protected] |
Ahmed Al Maawali Tel. +968 24790614 (Extn: 220) GSM: +968 96775070 Email: [email protected] |
| Gulf Baader Capital Markets PO Box 974, Ruwi, PC 112, Oman. Tel. +968 24790614 Fax: +968 24790612 Website : www.gbcmoman.net |
|
The relevant dates for the repurchase of second tranche will be as follows:
| Particulars |
Dates |
| Record date for repurchase |
August 25, 2015 |
| Submission of MCB Sale Authorisation Forms to the Broker |
August 26, 2015 – September 1, 2015 |
| Settlement of MCBs |
September 2, 2015 – September 8, 2015 |
To ensure fairness and transparency of the settlement mechanism, the Company will request MSM to suspend trading of MCBs from August 26, 2015 to September 8, 2015
In the event a MCB Holder does not wish to tender his/her second tranche of MCBs for sale to the Company, such MCB holders shall continue to remain entitled to convert their MCBs into shares of the Company in accordance with the timetable set out in Section VII Terms and Conditions of the MCB Prospectus.
Note:
- To ensure the return of 16.9% to MCB Holders, the Company will bear brokerage commission on behalf of MCB Holders sale transaction to the Company.
- MCB Holders who do not have a trading account with GBCM are requested to contact GBCM for further details. Account opening form is also available at the Broker’s website – www.gbcmoman.net
