The Board of Directors of Gamma Civic Ltd. informed its shareholders and the public in general that the Board has approved: (a) The implementation of a Multi-Currency Note Programme (the "Note Programme") pursuant to which the Company may issue one or multiple tranches or series of notes (the "Notes") up to a maximum aggregate nominal amount of three billion (MUR 3,000,000,000); (b) The First Issue of the Notes shall be rated by CARE Ratings (Africa) Private Limited; (c) The said first issue of Notes, shall be by way of private placement, of up to one billion (MUR 1,000,000,000) under the Note Programme (the "First Issue") and will not be listed on the Stock Exchange of Mauritius; and (d) The proceeds from the First Issue of the Notes shall be used to fund general working capital, future strategic initiatives and investments. The company is currently finalising the terms and conditions of the Note Programme and the First Issue, the related documentation and the appointment of the service providers.