High Yield Bond UpdateSeptember 14, 2015
14 September 2015
(“Globo” or “the Group”)
High Yield Bond Update
Globo plc (LSE-AIM: GBO / OTCQX: GOBPY), the international provider of Enterprise Mobility Management (EMM), mobile solutions and software as a service (SaaS), announces the following update concerning its High Yield Bond fund raising.
Globo plc is continuing the process of fund raising via a High Yield Bond which it hopes to conclude shortly, having received strong interest from numerous investors.
This process has been delayed by market events through the summer of 2015, notably uncertainty surrounding the Greek economy and latterly the weakness in global equities following the severe correction in China which has impacted the High Yield Bond market.
The purpose of the High Yield Bond issue, as stated at the outset, remains the strengthening of Globo’s position to execute acquisitions and to continue to advance its position in the Enterprise Mobility Management marketplace. Whilst the fund raising process is being concluded, Globo remains committed to completing the first of these acquisitions which is underpinned by existing cash resources which are currently held in investment grade banks in the US, UK and Switzerland.
Globo CEO Costis Papadimitrakopoulos commented:
“The recent developments in global markets have proved challenging in the raise of our maiden High Yield Bond issue. However, we have received considerable support to date from investors and are confident that our growth strategy remains on track. “
For further information please contact:
Costis Papadimitrakopoulos, CEO
RBC Capital Markets
(Nominated Adviser & Broker)
Chris Blundell or Charles Pemberton
Globo Plc is a global provider of complete enterprise mobility solutions and SaaS. Our GO!Enterprise (EMM) and GO!AppZone (MADP) offerings help businesses expand their engagement with employees and customers through the mobile channel via a secure and extensible environment that runs on all smart devices. The Group operates internationally through subsidiaries and offices in the U.S., U.K., Europe, Middle East and South East Asia. Globo was included in the 2014 Gartner Enterprise Mobility Management Magic Quadrant report, in Ovum’s 2014-15 Decision Matrix for EMM Solutions and 2015-16 Decision Matrix for MADP Solutions, and in IDC’s January 2015 report on Mobile Enterprise Application Development Platforms. For more information visit www.globoplc.com.