Eros Media World Plc is proposing to make some changes to its 9% bonds. These changes are more fully described in the correspondence sent to bondholders but they include plans to enable the mandatory redemption by the Company all of the outstanding bonds.

As a bondholder you have been offered the opportunity to vote on the proposal. If you do vote, you’re being offered a Consent Fee of £0.50 for every 100 bonds voted in favour of the Extraordinary Resolutions, as long as the proposals are approved.

Do I need to take any action?

If you choose to approve the changes, you must do so by noon on Tuesday 3 September 2024.

If you give an instruction to vote, your bonds will be blocked for a period of time and you’ll be unable to trade them. This will be until the earlier of either the proposal being rejected / cancelled or payment of the Consent Fee.

If the proposed changes are approved, upon redemption of the bonds the cash consideration will be paid in 2 parts to all bondholders – an upfront payment of £7 per £100 nominal amount of the bonds due on the mandatory redemption date, and a ‘delayed’ payment of £57.50 per £100 nominal amount of the bonds due 12-24 months after the mandatory redemption date.

We recommend that you read the full details of the memorandum before placing any instruction.

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.