The 2015 debenture exchange offer document sent to all debenture holders by post explains why we are offering to exchange your debentures for new ones with a higher rate of interest and how to notify us as to what you want to do.
The new 3-year (2018) debenture has a fixed interest of 8.25% and the 5 year debenture (2020) has a fixed interest of 8.75%.
We believe these are very attractive rates compared to other products in the market.
As explained in the offer document it is very important to the development of the Group that this exchange takes place and we very much hope that you will continue the journey with us.
Just Cash Flow PLC is now a wholly owned subsidiary of JLG Group PLC and it simplifies the administration (and therefore saves costs) to bring the Just Cash Flow debentures into The JLG Group with no disadvantage to the debenture holders.
Previously The JLG Group was the major shareholder in Just Cash Flow but did not own 100% as it does now.
No. You can exchange all or some of your debentures. Subject to the minimum limits you could exchange some for 2018 debentures, some for 2020 debentures and hold some of your existing debentures to current maturity.
Yes. The current debentures are quoted on the Cyprus Stock Exchange and can be sold through the Exchange at any time. The intention is that the new debentures will also be quoted on the Cyprus Stock Exchange.
JLG Group PLC has arranged additional new facilities from Institutional Funds.
These facilities by the Funds will be loaned to separate subsidiary companies which will loan out to SMEs in the same way as the existing operating companies. The ownership of the separate companies and the loan book and the bank accounts of these separate companies will be charged to the Institutional Funds.
The security for debentures will subordinate to the charge of the Institutional Funds but only to the extent of the amount loaned by the Funds to the separate companies.
The company has set up a help line on 0121 233 3312 and will do its best to help you understand and answer any questions that you have but it cannot give you any advice.
If you are in any doubt about the contents of the document and/or the action you should take, you should immediately consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser duly authorised under the Financial Services and Markets Act 2000 (as amended) ("FSMA") if you are in the United Kingdom or, if not, you should immediately consult another appropriately authorised independent professional adviser.