June 6, 2017. O1 Group Limited (“O1 Group”) and Goldman Sachs International (“GSI”) have entered into a new transaction regarding shares in O1 Properties Limited (“O1 Properties”) to replace the previous transaction executed in April 2014 (for details of that transaction see)
As a result of the new transaction:
• GSI has, subject to downside protection, acquired 5,112,475 Class B ordinary shares in O1 Properties corresponding to 4.33% of the total issued share capital of O1 Properties (the “Shares”) for a purchase price of USD$41,187,944.31 (equivalent to book value as of 31 December 2016)
• GSI benefits from fully pre-paid downside protection pursuant to which an O1 Group company will repurchase the Shares at scheduled maturity for an amount no less than the purchase price paid by GSI
• GSI will distribute a portion of any upside in the Shares above the purchase price to third party investors and will pledge the Shares and its rights in the Shares as security for its related obligations.
GSI may not dispose of the Shares prior to scheduled maturity.
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