Results of the subscription for nonconvertible bond offering

November 16, 2020

AS Pro Kapital Grupp (hereinafter Pro Kapital) informs that the subscription period of the private placement of nonconvertible bonds (hereinafter the “Bonds”), which was announced on 22 May 2020, has ended on 13 November 2020.

The Management Board has decided on the allocation of the first subscription of the Bonds as follows:

  1. Pro Kapital will issue 187 502 Bonds with the total issue value of EUR 525 005,60;
  2. The nominal value of each Bond will be EUR 2.80;
  3. The Bonds will carry interest at a 8% p.a., interests are paid twice a year;
  4. The Bonds can only be paid for with Pro Kapital’s convertible bonds, which should be transferred to Pro Kapital on or about 20 November 2020;
  5. The issue date of the first tranche of the Bonds is expected to take place on 27 November 2020 and the issue of the second tranche shall be carried out in the full volume indicated in section 1 above, provided that an equal number of convertible bonds is transferred to Pro Kapital;
  6. The final redemption date of the Bonds will take place on 31 October 2024;
  7. The Bonds are not secured and not convertible;
  8. The Bonds will be registered with the Estonian Central Securities Depository (CSD);
  9. Pro Kapital plans to apply for the listing of the Bonds at the corporate bond list on Nasdaq Tallinn.

CEO of Pro Kapital Paolo Michelozzi’s comment on the second subscription tranche of the Bonds: “We are glad that in this private placement in the second tranche we have refinanced part of our convertible bonds by issuing new nonconvertible bonds. Unfortunately, some subscriptions were not done in time due to technical issues of the banks, despite the Company extending the subscription period twice. As our investors continue to be interested in investing into our company, it is likely that we shall have a third tranche this year.”.

This notice has been published to comply with clauses 7.6. and 7.7. of the Requirement for Issuers of Nasdaq Tallinn Stock-Exchange.