| Tue 3 Dec 2024, 12:05 | | FULL CAPITAL REDEMPTION & EVENT OF DEFAULT - RED162 |
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FULL CAPITAL REDEMPTION & EVENT OF DEFAULT - RED162
REDINK RENTALS (RF) LIMITED
Date: 3 December 2024
Stock Code: RED162
FULL CAPITAL REDEMPTION & EVENT OF DEFAULT ANNOUNCEMENT OF ALL CLASS A NOTES ISSUED IN RELATION TO
TRANSACTION NO. 16 – TOWER INVESTMENTS (SMART TREAD FINANCING AGREEMENT)
Full Capital Redemption
In accordance with the Terms and Conditions of REDINK RENTAL (RF) LIMITED note programme, investors are herewith
advised of the final capital redemption amount of the below note effective 9 December 2024.
Stock ISIN Nominal Amount Capital Redemption Amount Outstanding After
Code Outstanding Amount Capital Redemption
RED162 ZAG000182023 R 60 000 000,00 R 0,00 R 60 000 000,00
Event of Default
Noteholders of the Class A note issued with stock code Transaction No. 16 – Tower Investments (Smart Tread Financing
Agreement) ("Transaction No. 16) with a Final Redemption Date of 9 December 2024 are referred to latest investor
report published on 7 October 2024, pages 4 and 8 to 10 –
• The occurrence of a Borrower Default as defined;
• The motion proceeding instituted by the Issuer against the Guarantor, Lombard Insurance Company Limited,
for payment of the sum as guaranteed, limited to R60 million, was served on the Guarantor on the 30th of
March 2023; and
• Following which, the matter was heard in the Commercial Court on 30 April 2024 and awaiting judgement to
be handed down, with judgement yet to be received.
Consequently, the Issuer will not be able to redeem the Class A Notes issued in relation to Transaction No. 16 on the
Final Redemption Date, being 9 December 2024, in addition to not being able to pay interest due and payable on the
Final Redemption Date as communicated through the SENS announcement of 2 December 2024.
Accordingly, Condition 11 (Events of Default) of the terms and conditions of the notes under the Programme in relation
to Transaction No. 16 will be triggered.
Further updates will be made following developments and as circumstances demand.
Capitalised terms and expressions used here and not otherwise defined herein, shall have the meanings ascribed to
such terms and expressions in the programme memorandum issued by the Issuer in relation to the Programme dated
29 May 2015 (the "Programme Memorandum"), and the amended and restated Applicable Pricing Supplement in
relation to Transaction No. 16.
For further information on the Note issued please contact:
Charlize Wiederkehr
Redinc Capital
charlize@red-inc.co.za
Date: 03-12-2024 12:05:00
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