The following is a notice to investors issued by ETI Securities PLC (the “Issuer”) in respect of Linked Compartment 37 which issued ETI units named Terreus Augmentum USD Asset Backed ETI (ISINMT0000961277).
Notification received by collateral on update to clause 7 of the terms and conditionsof the performance linked bonds issued by Terreus Augmentum Inc.
The Board of Directors of the Company wishes to notify you as an investor that it has received a Notice from Terreus Augmentum Inc., the collateral obligor of Linked Compartment 37, that the board of directors of Terreus Augmentum Inc. wishes to update clause 7 of theterms and conditions of the performance linked bonds.
It is intended that the strategy of Terreus Augmentum Inc. be updated to state the following:
“The Company’s assets will consist of:
- Notes called Terreus Augmentum MAPS issued by iMAPS Capital PLC, having ISIN IE00BG34JR01
- Cash and financial instruments held at Sparkasse Bank Malta PLC
- Cash and financial instruments held at Interactive Brokers LLC (US)
Up to ten percent of the company’s assets may comprise of assets not disclosed in this clause 7.”
Investors’ attention is brought to the fact that the Issuer on behalf of Linked Compartment 37 has in principle no objection to the above-indicated strategy proposed by the collateral obligor.
The meeting of the holders of the performance linked bonds of Terreus Augmentum Inc. will take place on the 14th June 2018.
Notification on proposed redemption in-kind
Investors’ attention is brought to the fact that the Issuer, on behalf of Linked Compartment 37, will only submit its non-objection to the proposed change in strategy of Terreus Augmentum Inc. PROVIDED the Issuer receives at least seventy-five percent (75%) consent of the Investors in Terreus Augmentum USD Asset Backed ETI on the below proposed redemption in-kind.
It is intended that following the purchase of Notes called Terreus Augmentum MAP, a redemption in-kind will be proposed to each holder of ETI units (ISIN MT0000961277) whereby ETI Units held by you as an investorwill be exchanged the corresponding value in the Notes called Terreus Augmentum MAP (the “redemption in-kind proposal”).
By means of this notice, we hereby request that you submit the attached DECLARATION indicating your approval or non-approval of the proposed redemption in-kind proposal by no later than the 13th June 2018. You are requested to submit the Declaration to the following:
Address: 66A, The Strand, Sliema SLM 1022, Malta
Email: [email protected]
Fax: +356 2016 7358
By no later than the 13th June 2018.
Should the Issuer receive at least seventy-five percent (75%) approval from its investors of the redemption in-kind proposal, the Issuer, on behalf of Linked Compartment 37, will submit its non-objection to the update in strategy proposed by Terreus Augmentum Inc. Otherwise, should less than seventy-five percent (75%) consent be received, the Issuer, on behalf of Linked Compartment 37 will submit its objection to the update in strategy proposed by Terreus Augmentum Inc.
After the 14th June 2018, the Issuer on behalf of Linked Compartment 37 will issue a subsequent notification to Investors informing you of whether the 75% consent to a redemption in-kind has been reached or not, and if reached details of the next subsequent steps will be provided.
Investors’ attention is brought to the fact that should you wish a copy of the Terms and Conditions of Terreus Augmentum MAP issued by iMAPS Capital PLC, kindly submit such request to [email protected]
PLEASE NOTE THAT ONCE THE DECLARATION IS SUBMITTED AND SHOULD YOU HAVE APPROVED THE PROPOSED REDEMPTION IN-KIND, SUCH CONSENT OF A REDEMPTION IN-KIND FROM YOUR END SHALL BE IRREVOCABLE AND BINDING ON ALL PARTIES.