Enterprise Holdings Limited
Enterprise Holdings Limited: Enterprise Holdings Extends Buy-Back Program for Corporate Bond – Buy-back program extended until March 31, 2015 – Volume remains limited to EUR 2.0 million
DGAP-News: Enterprise Holdings Limited / Key word(s): Strategic Company Decision/Bond 31.12.2014 / 10:00 --------------------------------------------------------------------- Enterprise Holdings Extends Buy-Back Program for Corporate Bond - Buy-back program extended until March 31, 2015 - Volume remains limited to EUR 2.0 million The Executive Board of the Enterprise Holdings Limited (Enterprise) resolved the extension of the buy-back program, which was initiated on July 2, 2014 and expires on December 31, 2014, from December 31, 2014 to March 31, 2015 for the 7.00 % corporate bond (ISIN: DE000A1G9AQ4) issued on September 26, 2012. Up to date bonds with a volume of 15.000 euro were acquired. The total volume of buy-back program remains restricted to 2.0 million euro at maximum. The other conditions of the program remain unchanged. Andrew Flowers, Chief Executive Officer of the Enterprise Holdings Limited, comments: "Our balance sheet remains stable and is still very solid. As at September 30, 2014 our liquidity amounted to 20.0 million euro. We will use these funds for our scheduled growth. Additionally we expect to generate strong future profits and cashflow in the second half of our fiscal year." Update on Special Account According to the terms and conditions of the bond, the issuer shall regularly deposit an amount equal to 50% of the issuer's estimated monthly net distributable profits in a specially designated bank account to secure the bond holders' position. Therefore the company credited 10,970,000 euro to this separate bank account and also transferred the first two interest payments of 2,450,000 euro each to the bond holders on 26 September 2013 and 2014 respectively. Therefore the current credit balance in the special account is 6,074,000 euro which includes the interest payment received from the bank for 2013. The special account's monthly development is published regularly on the company's website www.enterprise-holdings.de -> bond -> factsheet. End of corporate news Enterprise Holdings Ltd. Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The Group offers independent white label general insurance solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as administrative and marketing services. The Group focuses its activities on high-yield niches within the European general insurance market. The main category of the offered insurances is in the field of automobile damage and third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently the United Kingdom, France, Greece and Italy. Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ("issuer"). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ("prospectus") which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. --------------------------------------------------------------------- 31.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 309143 31.12.2014
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden