Global Ports Holding Announces Full Exercise of Warrants by Sixth Street Capital

Global Ports Holding Plc (GPH), recognized as the world’s largest independent cruise port operator, announced the full exercise of warrants by Sixth Street Capital Partners LLC (“Sixth Street”). This involves an aggregate of 8,395,118 new Ordinary shares of £0.01 each in GPH at an exercise price of 1 pence per ordinary share. The exercise of these warrants is part of a refinancing structure that was initially announced on May 24, 2021, with additional warrants issued during an ‘Adjustment Event’ on July 14, 2023.

The newly issued shares are part of the authorized capital agreed upon during the Company’s General Meeting in June 2021 and the Annual General Meeting in 2023. Following the exercise, GPH will proceed to list the new Ordinary Shares on the London Stock Exchange. The expected date for the admission of these shares is around March 28, 2024. This move will increase the Company’s issued share capital to 76,433,126 ordinary shares of GBP 0.01 each.

This development is significant for shareholders and potential investors as it alters the share capital structure of GPH, impacting the valuation and possibly the market perception of the company. Post-admission, GPH aims for enhanced transparency and compliance with the FCA’s Disclosure Guidance and Transparency Rules. This event aligns with GPH’s strategic financial management and growth plans in the cruise port sector.