Brief: Newgame Investor Group Offers Bridge Financing To GAM And Increases Investment With An Equity Swap

Gam Holding AG

18/08/2023 06:42

Aug 18 (Reuters) - GAM Holding AG  GAMH.S :
    * NEWGAME INVESTOR GROUP OFFERS BRIDGE FINANCING TO GAM AND
INCREASES INVESTMENT WITH AN EQUITY SWAP
    * NEWGAME: FACILITY IS INTENDED TO REPLACE LOANS MADE BY
LIONTRUST
TO GAM IN THE EVENT LIONTRUST’S TENDER OFFER FOR THE COMPANY IS
UNSUCCESSFUL
    * NEWGAME- BRIDGE FINANCING FROM NEWGAME ENSURES THAT GAM
CAN
CONTINUE TO OPERATE AS A GOING CONCERN WHEN LIONTRUST'S OFFER
FOR COMPANY FAILS
    * NEWGAME: TOTAL AMOUNT WOULD MATCH THE LIONTRUST LOANS OF
APPROXIMATELY CHF 20M
    * NEWGAME: LENDING TERMS FOR THE NEWGAME FUNDING WOULD
REFLECT A
TRANSACTION ENTERED INTO AT ARM'S LENGTH
    * NEWGAME - ALSO HAS AGREED TO ENTER INTO EQUITY SWAP
TRANSACTIONS
WITH A FINANCIAL COUNTERPARTY TO INCREASE ITS INVESTMENT IN GAM
    * NEWGAME: IF GAM'S BOARD AGREES, LOAN WILL BE MADE
AVAILABLE AT
VERY SHORT NOTICE UPON THE LIONTRUST OFFER BEING DECLARED
UNSUCCESSFUL
    * NEWGAME - UNDER TERMS SWAP TRANSACTIONS, CO WILL BE
GRANTED
ECONOMIC EXPOSURE TO UP TO AROUND 7.19M GAM SHARES
    * NEWGAME-SHORT-TERM FUNDING REPAYABLE ON EARLIER DATE ON
WHICH
GAM RECEIVES PROCEEDS OF CONVERTIBLE BOND THAT WAS PROPOSED BY
CO OR 31 DEC 2023

Source text for Eikon:  ID:nGNE7CSN2m 
Further company coverage:  GAMH.S 

 ((Reuters.Briefs@thomsonreuters.com;))