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Network Intnl Hldgs (NETW)

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Wednesday 10 April, 2019

Network Intnl Hldgs

Pricing Statement

RNS Number : 7296V
Network International Holdings PLC
10 April 2019
 

This document comprises a pricing statement relating to the Offer described in the prospectus published by Network International Holdings Limited (which has been re-registered and renamed as Network International Holdings plc (the Company)) on 1 April 2019 (the Prospectus), prepared in accordance with the Prospectus Rules of the Financial Conduct Authority (the FCA) made under section 73A of the Financial Services and Markets Act 2000 (as amended) (the FSMA) and approved by the FCA under section 87A of the FSMA.

Application will be made for the issued ordinary shares of the Company (the "Ordinary Shares") to be admitted to the premium listing segment of the Official List maintained by the FCA (the Official List) and to the London Stock Exchange plc (the London Stock Exchange) for all such Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (the Main Market) (together, Admission). Conditional dealings in the Ordinary Shares are expected to commence on the London Stock Exchange at 8:00 am (London time) on 10 April 2019. It is expected that Admission will become effective and that unconditional dealings in the Ordinary Shares on the London Stock Exchange will commence at 8:00 am (London time) on 15 April 2019 (the Closing Date) (or such later time and/or date as the Company and the Joint Global Coordinators may agree). All dealings in Ordinary Shares prior to the commencement of unconditional dealings will be on a "when issued" basis and of no effect if Admission does not take place and will be at the sole risk of the parties concerned. No application has been, or is currently intended to be, made for the Ordinary Shares to be admitted to listing or trading on any other stock exchange. Prior to the Global Offering, there has been no public market for the Ordinary Shares.

 

Network InternationalHoldings plc

(Incorporated under the Companies Act 2006 and registered in England and Wales with registered number 11849292)

Global Offering of 249,950,000 Ordinary Shares at an Offer Price 435 pence per Ordinary Share and admission to listing on the premium listing segment of the Official List maintained by the FCA and to trading on the Main Market of the London Stock Exchange.

249,950,000 Ordinary Shares (the Offer Shares) of the Company are being offered in this global offering (the Global Offering) by Emirates NBD Bank PJSC and WP/GA Dubai IV B.V. (the Selling Shareholders). The Global Offering includes 249,950,000 Ordinary Shares and, if the Over-allotment Option (as defined below) is exercised, up to 30,000,000 additional Ordinary Shares to be sold by the Selling Shareholders (the Over-allotment Shares). The Selling Shareholders have granted Citigroup (the Stabilising Manager) an over-allotment option (the Over-allotment Option) to purchase up to a maximum of 15 per cent. of the total number of Offer Shares (before exercise of the Over-allotment Option) and excluding the Cornerstone Shares (as defined in the document below) during the period commencing on the date of commencement of conditional dealings of the shares on the London Stock Exchange and ending no later than 30 calendar days thereafter at the initial offering price (the Offer Price) to cover over-allotments, if any, made in connection with the Global Offering and to cover any short positions resulting from stabilisation transactions.

The Global Offering comprises an offering of Ordinary Shares: (a) in the United States to qualified institutional buyers (each a QIB) as defined in, and in reliance on, Rule 144A (Rule 144A) under the US Securities Act of 1933 (the Securities Act); and (b) outside the United States to institutional investors in reliance on Regulation S (Regulation S) under the Securities Act. The Ordinary Shares have not been and will not be registered under the Securities Act and, subject to certain limited exceptions, may not be offered or sold within the United States. The Ordinary Shares are being offered and sold outside the United States in reliance on Regulation S and within the United States only to QIBs in reliance on Rule 144A.

Sole Sponsor, Joint Global Coordinator and Joint Bookrunner

Citigroup

Joint Global Coordinators and Joint Bookrunners

ENBD Capital

J.P. Morgan Cazenove

Morgan Stanley

Barclays

Joint Bookrunners

Goldman Sachs

Co-Lead Manager

Liberum

Financial Adviser

Evercore

ISSUED ORDINARY SHARE CAPITAL IMMEDIATELY FOLLOWING ADMISSION

Issued and fully paid

Number

 

Nominal value

500,000,000

 

GBP 50,000,000

This pricing statement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities other than the securities to which it relates or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, such securities by any person in any circumstances in which such offer or solicitation is unlawful.

In making an investment decision, each investor must rely on its own examination, analysis and enquiry of the Company, its subsidiaries (together with Company, the Group), and the terms of the Global Offering, including the merits and risks involved. The investors also acknowledge that: (a) they have not relied on the Banks or the Financial Adviser (each as defined below) or any person affiliated with the Banks or the Financial Adviser in connection with any investigation of the accuracy of any information contained in this pricing statement or their investment decision; and (b) they have relied only on the information contained in the Prospectus and this pricing statement. No person has been authorised to give any information or make any representations other than those contained in the Prospectus and this pricing statement and, if given or made, such information or representations must not be relied on as having been so authorised by the Company, the Banks or the Financial Adviser. Without prejudice to any legal or regulatory obligation of the Company to publish a supplementary prospectus pursuant to section 87G of FSMA and paragraph 3.4 of the Prospectus Rules, neither the delivery of the Prospectus nor any sale made under it shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since the date of this document or that the information in it is correct as of any subsequent time.

None of the Company, the Banks or the Financial Adviser or any of their respective representatives is making any representation to any prospective investor in the Ordinary Shares regarding the legality of an investment in the Ordinary Shares by such prospective investor under the laws applicable to such prospective investor. The contents of this pricing statement should not be construed as legal, financial or tax advice. Each prospective investor should consult his, her or its own legal, business, financial or tax adviser for legal, business, financial or tax advice applicable to an investment in the Ordinary Shares.

No person has been authorised to give any information or make any representation other than those contained in this document and, if given or made, such information or representation must not be relied upon as having been so authorised. Neither the delivery of this document nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since the date of this document or that the information in this document is correct as of any time subsequent to the date hereof.

None of the Company, the Selling Shareholders, the Banks or the Financial Adviser accepts any responsibility for the accuracy or completeness of any information reported by the press or other media, nor the fairness or appropriateness of any forecasts, views or opinions expressed by the press or other media, regarding the Global Offering or the Company. None of the Company, the Selling Shareholders, the Banks or the Financial Adviser makes any representation as to the appropriateness, accuracy, completeness or reliability of any such information or publication, and no such information or publication is, or shall be relied upon, as a promise or representation in this respect, whether as to the past or the future.

Citigroup Global Markets Limited (Citigroup) has been appointed as sole sponsor, joint global coordinator and joint bookrunner, and Emirates NBD Capital Limited (ENBD Capital Ltd), J.P. Morgan Securities plc (J.P. Morgan) and Morgan Stanley &Co. International plc (Morgan Stanley) have been appointed as joint global coordinators and joint bookrunners. Citigroup, ENBD Capital Ltd, J.P. Morgan and Morgan Stanley (together the Joint Global Coordinators) and, Barclays Bank PLC (Barclays) and Goldman Sachs International (Goldman Sachs) have been appointed as joint bookrunners (together with the Joint Global Coordinators, the Joint Bookrunners). Liberum Capital Limited, authorised and regulated by the Financial Conduct Authority (Liberum, or, the Co-Lead Manager), has been appointed as co-lead manager. Emirates NBD Capital PSC (ENBD Capital PSC) has been appointed as an Underwriter. Citigroup, ENBD Capital Ltd, J.P. Morgan, Morgan Stanley, Barclays, Goldman Sachs, Liberum, ENBD Capital PSC (together, the Banks) and Evercore Partners International LLP (the Financial Adviser), are acting exclusively for the Company and no one else in connection with the Global Offering, will not regard any other person (whether or not a recipient of this pricing statement) as a client in relation to the Global Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for giving advice in relation to the Global Offering or any transaction or arrangement referred to in this pricing statement. Each of Citigroup, J.P. Morgan, Morgan Stanley, Barclays and Goldman Sachs are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom and ENBD Capital Ltd is regulated by the Dubai Financial Services Authority. Liberum is authorised and regulated by the Financial Conduct Authority. The Financial Adviser is regulated by the Financial Conduct Authority. ENBD Capital PSC is regulated by the Central Bank of the UAE. The Banks and the Financial Adviser and any of their respective affiliates may have engaged in transactions with, and provided various investment banking, financial advisory and other services for, the Company and the Selling Shareholders and any of their respective affiliates for which they would have received customary fees. Each of the Banks and the Financial Adviser and any of their respective affiliates may provide such services to the Company and/or the Selling Shareholders and any of their respective affiliates in the future.

In addition, the Margin Loan Facilities have been made available to WP/GA by the Margin Loan Lenders. In the event of Admission, the security to be granted by WP/GA in favour of the Margin Loan Lenders in connection with the Margin Loan Facilities will represent some or all of the Ordinary Shares that WP/GA will hold at Admission.

In connection with the Global Offering, the Banks, the Financial Adviser and any of their respective affiliates, acting as investors for their own accounts, may acquire Ordinary Shares, and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such Ordinary Shares and other securities of the Company or related investments in connection with the Global Offering or otherwise. Accordingly, references in this document to the Ordinary Shares being issued, offered, acquired, placed or otherwise dealt in should be read as including any issue or offer to, or acquisition, dealing or placing by, the Banks and any of their affiliates acting as investors for their own accounts. In addition, certain of the Banks, the Financial Adviser or their affiliates may enter into financing arrangements (including swaps) with investors in connection with which such Banks and Financial Adviser (or their affiliates) may from time to time acquire, hold or dispose of Ordinary Shares. In addition, in connection with the Global Offering, certain of the Banks may enter into financing arrangements with investors, such as share-swap arrangements or lending arrangements where securities are used as collateral, that could result in such Banks acquiring shareholdings in the Company. None of the Banks or the Financial Adviser intends to disclose the extent of any such investments or transactions otherwise than in accordance with any legal or regulatory obligations to do so.

NOTICE TO INVESTORS

The Ordinary Shares are subject to transfer restrictions in certain jurisdictions. Prospective purchasers should read the restrictions described in the Prospectus under "Details of the Global Offering-Selling Restrictions". Each purchaser of the Ordinary Shares will be deemed to have made the relevant representations described therein.

The distribution of this document and the offer of the Ordinary Shares in certain jurisdictions may be restricted by law. No action has been or will be taken by the Company, the Selling Shareholders, the Banks or the Financial Adviser to permit a public offering of the Ordinary Shares or to permit the possession or distribution of this document (or any other offering or publicity materials relating to the Ordinary Shares) in any jurisdiction where action for that purpose may be required, other than the United Kingdom. Accordingly, neither this document nor any advertisement or any other offering material may be distributed or published in any jurisdiction except under circumstances that will result in compliance with any applicable laws and regulations. Persons into whose possession this document comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

In particular, save for the United Kingdom, no actions have been taken to allow for a public offering of the Ordinary Shares under the applicable securities laws of any other jurisdiction, including Australia, Canada, Japan, the UAE or the United States. This pricing statement does not constitute an offer of, or the solicitation of an in the Company. Apart from the responsibilities and liabilities, if any, which may be imposed on any of the Banks or the Financial Adviser by the FSMA or the regulatory regime established thereunder, or under the regulatory regime of any jurisdiction where the exclusion of liability under the relevant regulatory regime would be illegal, void or unenforceable, none of the Banks or the Financial Adviser accepts any responsibility whatsoever for, or makes any representation or warranty, express or implied, as to, the accuracy, completeness or verification of the contents of this pricing statement or for any other statement made or purported to be made by it, or on its behalf, in connection with the Company, the Ordinary Shares or the Global Offering and nothing in this pricing statement will be relied upon as a promise or representation in this respect, whether as to the past or future. Each of the Banks and the Financial Adviser accordingly disclaims, to the fullest extent permitted by applicable law, all and any responsibility or liability, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of this pricing statement or any such statement.

In connection with the Global Offering, the Stabilising Manager may (but will be under no obligation to), to the extent permitted by applicable law, over-allot Ordinary Shares up to a maximum of 15 per cent. of the total number of the Offer Shares (prior to any exercise of the Over-allotment Option and excluding the Cornerstone Shares) or effect other transactions with a view to supporting the market price of the Ordinary Shares at a level higher than that which might otherwise prevail in the open market for a period of no more than 30 calendar days after the date of commencement of conditional dealings of the shares on the London Stock Exchange. Such transactions may be effected on the London Stock Exchange, in the over-the-counter markets or otherwise. There is no obligation on the Stabilising Manager to undertake stabilisation transactions. Such transactions, if commenced, may be discontinued at any time without prior notice and must be brought to an end no later than 30 calendar days after the date of commencement of conditional dealings of the Ordinary Shares on the London Stock Exchange (the Stabilisation Period). In no event will measures be taken to stabilise the market price of the Ordinary Shares above the Offer Price. Save as required by law, the Stabilising Manager does not intend to disclose the extent of any stabilisation transactions under the Global Offering.

For the purposes of allowing the Stabilising Manager to cover short positions resulting from any such over-allocations and/or from sales of Shares effected by it during the Stabilisation Period, the Selling Shareholders have granted to it the Over-allotment Option, pursuant to which the Stabilising Manager may purchase or procure purchasers for up to a maximum of 15 per cent. of the total number of Offer Shares (excluding the Cornerstone Shares) at the Offer Price. The Over-allotment Option is exercisable in whole or in part, upon notice by the Stabilising Manager, at any time on or before the 30th calendar day after the commencement of conditional dealings in the Ordinary Shares on the London Stock Exchange. Any Over- allotment Shares made available pursuant to the Over-allotment Option will rank pari passu in all respects with the Ordinary Shares, including for all dividends and other distributions declared, made or paid on the Ordinary Shares, will be purchased on the same terms and conditions as the Ordinary Shares in the Global Offering and will form a single class for all purposes with the other Ordinary Shares.

 

NOTICE TO PROSPECTIVE INVESTORS IN THE UNITED STATES

The Ordinary Shares have not been, and will not be, registered under the Securities Act or the securities laws of any state of the United States. The Ordinary Shares are being offered and sold outside the United States in reliance on Regulation S and within the United States to "qualified institutional buyers" in reliance on Rule 144A. Prospective purchasers are hereby notified that sellers of the Ordinary Shares may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. For a description of these and certain further restrictions on offers, sales and transfers of the Ordinary Shares, see the Prospectus "Details of the Global Offering-Selling Restrictions".

The Ordinary Shares referred to in this pricing statement have not been approved or disapproved by the United States Securities and Exchange Commission (the SEC), any State securities commission in the United States or any other United States regulatory authority, nor have any such authorities passed upon, or endorsed the merits of, the Global Offering or the accuracy of this pricing statement. Any representation to the contrary is a criminal offence in the United States.

GROUP'S WEBSITES

Information contained on the Group's websites or the contents of any website accessible from hyperlinks on the Group's websites are not incorporated into and do not form part of this pricing statement.

INFORMATION TO DISTRIBUTORS

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (MiFID II); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the MiFID II Product Governance Requirements), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Ordinary Shares have been subject to a product approval process, which has determined that such Ordinary Shares are: (a) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (b) eligible for distribution through all distribution channels as are permitted by MiFID II (the Target Market Assessment). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Ordinary Shares may decline and investors could lose all or part of their investment; the Ordinary Shares offer no guaranteed income and no capital protection; and an investment in the Ordinary Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Global Offering. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Banks will only procure investors who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Ordinary Shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the Ordinary Shares and determining appropriate distribution channels.

The date of this pricing statement is 10 April 2019.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS AND OFFER STATISTICS

Expected Timetable of Principal Events

Each of the times and dates in the table below is indicative only and may be subject to change without further notice. References to time and date are to time and date in London, United Kingdom unless otherwise stated.

 

Event

Time and date

Announcement of the Offer Price and Offer Size, publication of the Pricing Statement and notification of allocations of Ordinary Shares in the Global Offering(1)........................

7:00 am on 10 April 2019

Commencement of conditional dealing in Ordinary Shares on the London Stock Exchange..........................................

8:00 am on 10 April 2019

Admission and commencement of unconditional dealings in Ordinary Shares on the London Stock Exchange ...........

8:00 am on 15 April 2019

CREST accounts credited in respect of Ordinary Shares acquired in the Global Offering in uncertificated form ....

8:00 am on 15 April 2019

Share certificates despatched .............................................

Within ten business days of Admission

__________________

 It should be noted that if Admission does not occur, all conditional dealings will be of no effect and any such dealings will be at the sole risk of the parties concerned. Temporary documents of title will not be issued.

 

Offer Statistics

 

Offer Price (per Ordinary Share) ................................

GBP 4.35

Number of Ordinary Shares in the Offer (assuming no exercise of the Over-allotment Option)  

200,000,000

Number of Ordinary Shares allotted to the Cornerstone Investor (the Cornerstone Shares)(1)   

49,950,000

Number of Ordinary Shares in the Global Offering as a percentage of total number of Ordinary Shares in issue immediately following Admission (assuming no exercise of the Over-allotment Option)    

50.0 per cent.

Maximum number of Ordinary Shares subject to the Over-allotment Option...........................................

30,000,000

Gross proceeds of the Global Offering receivable by the Selling Shareholders (assuming no exercise of the Over-allotment Option)(2) .......................................

GBP 1,087,282,500

Estimated net proceeds of the Global Offering receivable by the Selling Shareholders (assuming no exercise of the Over-allotment Option)(2)(3) .............

GBP 1,072,057,500

Market capitalisation of the Company at the Offer Price(4) .................................................................

GBP 2,175,000,000

Expenses charged to the purchasers of Ordinary Shares by the Company or the Selling Shareholders ...........

nil

__________________

Note:

(1)           Mastercard UK Holdco Limited (a wholly owned indirect subsidiary of Mastercard Inc.) may, prior to Admission, accede to the Cornerstone Investment Agreement and acquire these Ordinary Shares.

(2)           The Company will not receive any of the net proceeds from the sale of Ordinary Shares in the Global Offering. 

(3)           The net proceeds receivable by the Selling Shareholders are stated after deduction of the base underwriting commissions and expenses of approximately GBP 15 million.

(4)           The market capitalisation of the Company at any given time will depend on the price of the Ordinary Shares at the time. There can be no assurance that the market price of an Ordinary Share will be equal to or exceed the Offer Price.

 

1.         Directors' and Senior Management's interests in the Company

1.1        The following table sets out the expected interests of the Directors and members of Senior Management immediately prior to Admission and immediately following Admission:

 

 

Interests in Ordinary Shares immediately before Admission

Interests in Ordinary Shares immediately following Admission

Director/Senior Management

Number of Ordinary Shares

Percentage of issued Ordinary Share capital

Number of Ordinary Shares

Percentage of issued Ordinary Share capital

Rohinton Kalifa..........................

 -

-

564,698

0.11 per cent.

____________

 

2.         Significant shareholders' interests in the Company

2.1        Insofar as it is known to the Company as at the date of this pricing statement, the following persons will, on Admission, be directly or indirectly interested (within the meaning of the Companies Act 2006) in 3 per cent. or more of the Company's issued share capital (being the threshold for notification of interests that will apply to Shareholders as at Admission pursuant to Chapter 5 of the Disclosure Guidance and Transparency Rules), assuming no exercise of the Over-allotment Option:

 

Shareholder

Interests in Ordinary Shares immediately before Admission

Interests in Ordinary Shares following Admission assuming no exercise of the Over-allotment Option

 

No.

Per cent. of total issued

No.

Per cent. of total issued

Emirates NBD Bank PJSC....................

255,000,000

51 per cent.

127,525,500

25.51  per cent.

WP/GA Dubai IV B.V.(1)............................

245,000,000

49 per cent.

122,524,500

24.50  per cent.

Mastercard Asia/Pacific Pte. Ltd. (the Cornerstone Investor)(2)..........

-

-

49,950,000

9.99  per cent.

T-Rowe Price International Inc.(3)............................

-

-

18,000,000

3.60  per cent.

FMR Investment Management (UK) Limited(3).............

-

-

18,000,000

3.60  per cent.

The Capital Group Companies, Inc.(3)   

-

-

16,000,000

3.20  per cent.

________________________

(1)     In the event of Admission, WP/GA Dubai IV B.V. is expected to grant security over all or some of its ordinary shares in connection with the two margin loan facilities up to a maximum aggregate principal amount of the GBP equivalent of USD 300 million with Barclays Bank PLC and Goldman Sachs International (with Goldman Sachs International having the right to procure that one of its affiliates performs its obligations under the binding commitment), as lenders (the Margin Loan Facilities).

(2)     Mastercard UK Holdco Limited (a wholly owned indirect subsidiary of Mastercard Inc.) may, prior to Admission, accede to the Cornerstone Investment Agreement and acquire these Ordinary Shares.

(3)     Ordinary Shares may be acquired in part through various subsidiary entities.

2.2        Save as disclosed above, insofar as is known to the Directors, there is no other person who is or will be immediately following Admission, directly or indirectly, interested in 3 per cent. or more of the issued share capital of the Company, or of any other person who can, will or could, directly or indirectly, jointly or severally, exercise control over the Company.

The Directors have no knowledge of any arrangements the operation of which may at a subsequent date result in a change of control of the Company.

There are no differences between the voting rights enjoyed by the Shareholders as set out in this paragraph "Significant shareholders' interests in the Company" and those enjoyed by any other holder of Ordinary Shares in the Company.

2.3        The following investors intend to purchase more than 5% of the Ordinary Shares in the Global Offering (including through subsidiary entities): T Rowe Price International Inc., FMR Investment Management (UK) Limited and The Capital Group Companies, Inc.

3.         Selling Shareholders

The following table sets forth the Company's shareholders holding Ordinary Shares: (i) immediately prior to Admission; and (ii) immediately following the Global Offering, assuming no exercise of the Over-allotment Option:

Shareholder

Immediately prior to Admission

Ordinary Shares to be sold in the Offer assuming no exercise of the Over-allotment Option

Immediately following the Global Offering

 

No.

Per cent. of total issued

No.

Per cent. of total issued

No.

Per cent. of total issued

Emirates NBD Bank PJSC......

255,000,000

51 per cent.

         127,474,500(2)

25.49  per cent.

127,525,500

25.5  per cent.

WP/GA Dubai IV B.V.(1).............

245,000,000

49 per cent.

122,475,500(2)(3)

24.50  per cent.

122,524,500

24.5  per cent.

 

(1)        In the event of Admission, WP/GA Dubai IV B.V. is expected to grant security over all or some of its Ordinary Shares in connection with the Margin Loan Facilities

                (2)        Includes the Ordinary Shares sold to the Cornerstone Investor

                (3)        Includes the Ordinary Shares sold to Rohinton Kalifa

 

____________

4.         Legal and Commercial Name

On 5 April 2019, the Company was re-registered as a public company limited by shares and re-named Network International Holdings plc.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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