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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Glanbia Plc | LSE:GLB | London | Ordinary Share | IE0000669501 | ORD EUR0.06 (CDI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 17.50 | 16.90 | 18.10 | 155 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Pharmaceutical Preparations | 5.43B | 344.5M | 1.2652 | 13.83 | 4.77B |
From Apr 2019 to Apr 2024
TIDMGLB
RNS Number : 0772A
Glanbia PLC
02 June 2016
GLANBIA CO-OPERATIVE SOCIETY LIMITED - SUCCESSFULLY PRICED AND PLACED FIVE YEAR EXCHANGEABLE BOND LINKED TO GLANBIA PLC SHARES
2(nd) June 2016
Glanbia plc,("Glanbia") the global nutrition group, has been informed by its largest shareholder, Glanbia Co-operative Society Limited (the "Society") that it has raised EUR100 million by the placement today of a five year exchangeable bond (the "Bond") linked to a pledge of approximately 4.3 million Glanbia shares which the Society owns.
In total the Society and its subsidiaries hold 108,014,900 ordinary shares in Glanbia.
The initial exchange price of the Bond was set at EUR 23.26, representing a premium of 40% to the volume weighted average price of Glanbia shares on the Irish Stock Exchange between launch and pricing earlier today.
The number of issued shares in Glanbia plc will not change as a result of this Bond placement.
The Society intends to use the majority of the proceeds from the Bond for the creation of a dynamic market volatility fund for its milk and grain supplying members (the "Members"). This fund will enable participating Members to draw down funds on an interest free basis when the market price for milk and grain falls below specific levels. The Society will recover the funds drawn down when milk and grain prices exceed a higher price trigger. The remaining proceeds will be used for general business purposes.
Settlement of the Bond is expected to take place on or about 9 June 2016. The Society will be subject to a lock-up ending 90 days after the settlement Date.
For further information on the terms of the Bond refer to the announcements issued by the Society earlier today.
For further information contact:
Media
Mark Garrett, Director of Communications & Public Affairs : +353 86 6019655
Investors
Liam Hennigan, Head of Investor Relations : +353 86 046 8375
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUUUSRNOANRAR
(END) Dow Jones Newswires
June 02, 2016 10:26 ET (14:26 GMT)
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