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BMIT Technologies P.L.C. Initial Public Offering – NOW CLOSED

Bmit Webbanner

(NOW CLOSED)

GO P.L.C. is seeking to raise up to forty-nine million Euro (€49,000,000) through the disposal of Shares.

The Company announced that further to the approval of the Board of Directors, the Company will be seeking to dispose of up to forty- nine percent (49%) of its shareholding in BMIT (formerly GO Data Centre Services Limited) through an IPO of the Shares.

The core business of BMIT is primarily carried out through the following four companies: BMIT Limited, Kinetix IT Solutions Limited, BM Support Services Limited and BellNet Limited (collectively, the “BMIT Group”).

The main activities of the BMIT Group include datacenter services, cloud services and managed IT services.

Use of Proceeds

The sale of the Shares will generate liquidity to the Company that will be applied to deliver returns to its shareholder. The value of the gross assets attributable to the BMIT Group as at 31 December 2017 amounted to €15.8 million and profit after tax generated by the BMIT Group during the financial year ended 31 December 2017 amounted to €4.1 million.

Terms

GO Plc has entered into Pre-Allocation Agreements with a number of financial intermediaries and has allocated a total amount of 79,261,701 shares to such intermediaries. Calamatta Cuschieri has successfully participated in the Pre-Allocation Offer which will be made available to its clients.

Applications can be made for the Pre-Allocation Offer shares and will be for a minimum of 14,300 Shares and in multiples of 100 Shares thereafter.

GO Plc has also reserved a maximum aggregate amount of 20,500,000 shares of BMIT for subscription by Preferred Applicants – collectively GO Shareholders as at 3rd January 2019 and Go Group Employees, as well as the general public.

Applications received from Preferred Applicants and the general public shall be for a minimum of 2,000 Shares and in multiples of 100 Shares thereafter.

How to apply

Orders for the Pre-Allocation Offer shares can be submitted through CC Trader using the instrument “BMIT Technologies IPO Pre-Allocation Shares” for a minimum quantity of 14,300 shares. All orders for the Pre-Allocation Shares must be submitted by not later than the 22nd of January, 2019 @ 1700hrs (Closing date).

Orders for Preferred Applicants can be submitted through CC Trader using the instrument “BMIT Technologies IPO Preferred Applicants” for a minimum quantity of 2,000 shares. All orders for the Preferred Applicants must be submitted by not later than the 31st of January, 2019 @ 1400hrs (Closing date). Preferred Applicants submitting their application through Certificated accounts must complete and submit Application Form B which will be sent to Shareholders by the Issuer.

Orders for the General Offer shares can be submitted through CC Trader using the instrument “BMIT Technologies IPO General Offer” for a minimum quantity of 2,000 shares. All orders for the General Offer must be submitted by not later than the 31st of January, 2019 @ 1400hrs (Closing date).

Orders will be accepted from the 10th of January, 2019 and can also be submitted by visiting one of our branches or through your financial advisor.

The Pre-Allocationoffer may close at an earlier date without prior notice as a result of over-subscription.

Non-nominee applications will be subject to a EUR 25 fee.

A copy of the Slide show published by BMIT regarding the IPO is available here

A copy of the Prospectus is available here

A copy of our Equity Research Report on BMIT Technologies Plc is available here

A copy of our Equity Research Report on GO Plc is available here