FilingReader Intelligence

Globe Trade Centre amends terms of Series A participating notes

April 16, 2025 at 09:03 PM UTCBy FilingReader AI

Globe Trade Centre (GTC), JSE: GTCE, announced amendments to its Participating Notes after Paula S.À R.L. exercised an option to purchase shares held by LFH Portfolio Acquico S.À R.L. and ZNL Investment S.À R.L. in several Kaiserslautern and Heidenheim portfolio companies. This option forms part of a broader transaction related to acquiring a German residential portfolio. Following settlement, GTC will indirectly hold 89.9% and 84.8% stakes in Kaiserslautern and Heidenheim portfolios, respectively. Under the amended terms, if the Call Option is settled before April 30, 2025, GTC can exercise its right to early redemption of the notes, contingent on a General Meeting's approval for a share capital increase and/or any other resolution necessary to effectuate the Company's right to early redemption. Additionally, from April 15, 2025, the noteholder can request early redemption, also subject to the Share Capital Increase. Early redemption will be executed through a set-off against the subscription price of the equity instruments without additional cash payable to the noteholder.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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