Enhanced Investments - Financial Portal

Cell C Limited – Update on Bond Process for the Recapitalisation of Cell C

Published: 2022-07-05 16:07:33 ET

Blue Label Telecoms Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/022679/06)
Share code: BLU
ISIN: ZAE000109088
(“Blue Label”)

CELL C LIMITED (“Cell C”) – UPDATE ON BOND PROCESS FOR THE RECAPITALISATION OF CELL C

1.            Shareholders are referred to the SENS announcement of 21 June 2022, regarding Cell C’s U.S.$184,002,000 8.625%
              First Priority Senior Secured Notes due 2020 (the “Notes”) whereby shareholders were notified of the fact that the
              Noteholder meeting held on 20 June 2022 was adjourned to 5 July 2022 as a result of a large Noteholder having tendered
              voting instructions after the deadline.

2.            The Noteholder meeting was held today and Noteholders with the requisite majority voted resolutions in favour of,
              amongst other things, the compromise offer as set out in Cell C’s consent solicitation memorandum dated 25 May 2022.

3.            The final stages of the over-all Cell C recapitalisation transaction are being implemented and same is expected to
              proceed to final close in late July 2022.


Sandton
5 July 2022

Financial Adviser and Sponsor
Investec Bank Limited

Legal Adviser to Blue Label
Werksmans Inc

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.