ALP2 Alpha Plus24

TIDMALP2

RNS Number : 9124P

Alpha Plus Holdings Limited

12 October 2023

Notice of Redemption of Bonds and pricing

This notice relates to the disclosure of information that qualified or may have qualified as inside information within the meaning of Article 7(1) of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (the "UK Market Abuse Regulation" ).

SEE "IMPORTANT INFORMATION" BELOW.

ISIN: XS1379593566

12 October 2023

ALPHA PLUS HOLDINGS LIMITED

(the "Company")

GBP130,000,000 5.00 per cent. Secured Sterling Bonds due 31 March 2024 (the "Bonds")

Notice of Early Redemption of Bonds at the Option of the Company

This notice is in respect of the Bonds which are constituted by the trust deed, dated 31 March 2016 (as amended, supplemented or otherwise modified to the date hereof, the "Trust Deed"), by and among (among others) the Company , Alpha Plus Group Limited and M&G Trustee Company Limited (formerly Prudential Trustee Company Limited), as trustee (the "Trustee"). Reference is also made to the announcement by the Company on 14 June 2023, in relation to the Share Sale (the "Sale Announcement").

Capitalised terms used in this notice but not defined herein have the meanings ascribed to them in the Trust Deed or the Sale Announcement, as applicable.

The Company confirms that, further to the Sale Announcement, the Completion Date occurred on 11 October 2023 and that therefore, as of that date, the Purchaser is the shareholder of the Company.

NOTICE IS HEREBY GIVEN in accordance with Condition 15 (Notices) that, pursuant to Condition 5(c) (Redemption at the Option of the Company), the Company intends to redeem the aggregate principal amount of the Bonds that remain outstanding in full (such Bonds, the "Prepayment Bonds") on 13 November 2023 (the "Repayment Date").

The redemption price payable in respect of the Prepayment Bonds is 100 per cent. per GBP100 principal amount of the Prepayment Bonds (the "Redemption Price"), as determined in the manner described below. The Redemption Price shall be paid together with any accrued but unpaid interest on the Prepayment Bonds up to (but excluding) the Repayment Date.

The Company appointed Allia C&C (a trading name of City & Continental Limited) of Cheyne House, Crown Court, 62-63 Cheapside, London EC2V 6AX as the "Financial Adviser" pursuant to Condition 5(c) (Redemption at the Option of the Company). The Financial Adviser determined that, as provided in the Conditions, the 2.75 per cent. United Kingdom Government Treasury Stock due 2024 was the Reference Stock. The Redemption Price has been calculated in accordance with Condition 5(c) (Redemption at the Option of the Company) and was determined on 9 October 2023 (being the Calculation Date for the purposes of the Conditions) at 11.00am (London Time).

Important information

This notice is given by the Company and contains information that qualified or may have qualified as inside information within the meaning of Article 7(1) of the UK Market Abuse Regulation. For the purposes of the UK Market Abuse Regulation and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, this notice is made by Jim Bowden, Chief Financial Officer of the Company.

This notice does not constitute, or form a part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

Media enquiries: Chloe Walters, Head of Communications - press@inspirededu.com

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(END) Dow Jones Newswires

October 12, 2023 02:59 ET (06:59 GMT)

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