AX Group extends AXRE share and bond offer period

AX Group has extended the offer period relevant to the subscription of shares in AX Real Estate and the €40 million Bond issue, which opened on Monday and which were meant to close on 21 January, by 10 days.

The company said that it recognised that investors might be having difficulty consulting with their preferred authorised financial intermediaries due to the “renewed imposition of mandatory health measures to contain the recent surge of COVID-19 cases”.

AXRE issued a class of shares of a nominal value of €0.125 per share, 33,333,333 ordinary ‘A’ shares of which are offered  for sale to the public at an average price of €0.60 per share.

The company also issued €40,000,000 in 3.5% unsecured bonds of a nominal value of €100 per bond, redeemable in 2032.

AX Group now extended the offer period to 31 January.

As a result of this decision, the intragroup debt agreement between AX Investments plc and Simblija Developments Limited has been amended to provide that the interest payable on the outstanding balance will be deferred until 28 February 2032.

Similarly, the intragroup debt agreement between AX Group plc and AXRE will also be deferred to 28 February 2032, instead of 31 January 2032.

AXRE said that the payment of interest on the Bonds will be made at close of business 15 days prior to the Interest Payment Date, now pushed to 7 February of each year, via a a direct credit transfer into the bond holder’s bank account.