New Issues AX Real Estate p.l.c

New Issues AX Real Estate p.l.c

AX Real Estate p.l.c. (“the Company”), a wholly owned subsidiary of AX Group p.l.c., has announced the issuance of shares and a bond (“the Combined Offer”) consisting of: • 33,333,333 ordinary ‘A’ shares (subject to an over-allotment option which, if exercised, would increase the offer up to 50,000,000 ordinary ‘A’ shares) at an offer price of €0.60 per share (“the Shares”); and • up to €40 million in 3.5% unsecured bonds due 2032 to be issued at par (the “Bonds”). The Combined Offer is part of a reorganisation of the AX Group, whereby a portfolio of immovable assets with a value of €231.1 million will be consolidated under the Company. The property portfolio includes hotels, a healthcare and retirement village, and residential and commercial properties. These properties earn revenue streams via lease agreements, mainly with AX Group companies. The Company intends to pay a steady dividend stream to shareholders, on the basis of a dividend policy whereby the majority of its distributable profits will be distributed, subject to retaining a minimum cash balance of €1.0 million. For the initial two years the Company is committing to a guaranteed net dividend yield of 4%, with projections showing a progressive increase thereafter to 5.1% in 2025. Additional information about the Combined Offer and the Company can be obtained from the prospectus which is available on the Company’s website [https://axrealestate.mt/investor-information/]. Application Process The offer period will open on the 10th of January 2022 and close on the 21st of January 2022, or earlier should the issuer decide to do so. Applications are subject to a minimum subscription of 5,000 Shares (equivalent to €3,000) and of €2,000 in the Bonds. Investors applying for 200,000 Shares will benefit from a 10% discount on the offer price. Applicants are required to apply for a combination of Shares and Bonds, in order to be considered for any allocation of the Bonds, unless an application for Bonds is submitted for a minimum of €250,000 in bonds. Applications from current bondholders of bonds issued by AX Group plc and AX Investments plc will be given preference. Curmi & Partners Ltd. has been appointed by the Company to act as Joint Sponsor and Authorised Financial Intermediary for the Combined Offer. This communication is intended for information purposes and should not be considered as investment advice. Should you have any queries, please feel free to contact your designated client manager at Curmi & Partners. Prospective investors should refer to the prospectus. The value of an investment can go down as well as up and past performance is not necessarily indicative of future performance. Investors may lose some or all of the money invested.

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