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6PM Limited has announced the issue of € 13 million in unsecured bonds maturing in 2025 and carrying an annual coupon of 5.1%. The Company has also announced its intention to give priority allocation of the newly issued bonds to existing shareholders of 6PM Limited’s common stock.
6PM Holdings plc. (ISSUER)
6PM Holdings plc is the holding and finance company of 6PM Group. By being the primary financing arm of the Group, the issuer carries out the sole activity of raising capital on behalf of the Group and its operating units, and it is therefore economically dependent on the financial and operating performance of the 6PM Group’s operating units.
The core business of the Group focuses on the development and sale of integrated technology and services to the health care industry. 6PM Group’s main activities involve the provision of: information technology and data store services, IT consultancy and optimization services, and research & development of customized products and solutions for a variety of health care providers. The Group largely operates through three major subsidiaries:
? 6PM Limited, based in Malta and the primary revenue source for the Group, engaged in the provision of information technology services, software development and maintenance both locally and internationally.
? 6PM Management Consultancy (UK) Ltd, based in UK, involved in the development and implementation of 6PM Group products and solutions.
? Compunet Limited, also based in Malta, and primarily engaged in the importation and sale of IT related hardware, products and networking supplies and accessories.
Throughout its operating units 6PM Group generated 44% of its revenue from sales of licenses and products, 40% from services rendered and 16% through support and maintenance agreements. The Group experienced a revenue growth of 35% from 2012 to 2014, growing its sales by GBP 2.5 million from GBP 7.2 million in 2012 to GBP 9.7 million in 2014. Last year the Group reported an after tax profit of GBP 0.8 million up 14% from a year earlier.
BOND ISSUE OVERVIEW
Issuer: 6PM Holdings plc
Aggregate amount: € 13,000,000
Coupon: 5.1% per annum
Face Value Denomination:€100
Issue Price: € 100 (par)
Maturity: 31 July 2025
Interest payment date: 31 July 2016 and on the same day thereafter until maturity in 2025
Minimum Investment: € 2,000 and multiple of € 100 thereafter
The Company intend to use the net proceeds of the sale of the newly issued bonds as follows:
? € 5.8 million will finance the acquisition of Blithe as described in Sec. 6.1 of the Registration Document;
? € 3.2 million will be used to repay bank facilities previously extended to 6PM Group;
? € 2.7 million will be used to develop new and existing products of 6PM Group;
? Any remaining balance will be used as working capital for ordinal operations.
Deadline for Submission of Applications
28 July 2015 – Deadline for Applications to be received from Shareholders
31 July 2015 – Deadline for Applications received through intermediaries’’ offer.
A copy of the Full Prospectus is available here.
For more information please contact us on 25 688 688 or [email protected].
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