DJ Withdrawal of Scheme of Arrangement
Global Ports Holding PLC (GPH)
Withdrawal of Scheme of Arrangement
06-Apr-2021 / 16:40 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Global Ports Holding Plc
Withdrawal of Scheme of Arrangement
Global Ports Holding Plc ("GPH" or the "Group"), the world's largest independent cruise port operator, announces today
that its wholly owned subsidiary Port Finance Investment Limited has decided to withdraw the Scheme of Arrangement
("the Scheme"), first announced on the 7th January 2021 and launched on 18th February 2021, relating to the proposed
refinancing of the USD250,000,000 8.125% Senior Unsecured Notes due 2021 issued by Global Liman Isletmeleri A.S. The
withdrawal of the Scheme is effective as of the 6 April 2021.
Since it first announced its proposed scheme of arrangement the Group and its advisors have engaged extensively with
noteholders, including certain key noteholders who formed an Ad Hoc Group ("AHG"). However, the Group has decided to
withdraw the Scheme after concluding that an agreement that was in best interests of the company and all stakeholders
to effectively extend the maturity of the Eurobond could not be reached with the AHG. The Group has received support
from all those noteholders that had elected to vote on the scheme up to today, excluding the AHG.
The Issuer and its subsidiaries, parent entities and stakeholders will continue to monitor the Issuer's financial and
liquidity positions and evaluate its options regarding its financing alternatives in relation to the Notes.
CONTACT
For investor, analyst and financial media enquiries: For media enquiries:
Investor Relations Global Ports Holding, Company Secretary
Martin Brown Alison Chilcott
Email: martinb@globalportsholding.com Email: alisonc@globalportsholding.com -----------------------------------------------------------------------------------------------------------------------
ISIN: GB00BD2ZT390
Category Code: SOA
TIDM: GPH
LEI Code: 213800BMNG6351VR5X06
Sequence No.: 97382
EQS News ID: 1181493
End of Announcement EQS News Service
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(END) Dow Jones Newswires
April 06, 2021 11:40 ET (15:40 GMT)
