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    RDS   MA0000012239

RÉSIDENCES DAR SAADA S.A

(RDS)
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Residences Dar Saada S A : Résumé en anglais du dossier d'information relatif au programme de billets de trésorerie

01/13/2021 | 09:50am EST

INFORMATION PACKAGE SUMMARY COMMERCIAL PAPER ISSUANCE PROGRAM

The AMMC approved the Information package that consists of:

  • The transaction note approved by the AMMC on 26 December 2019 under the reference EN/EM/023/2019;
  • Reference document of Résidences Dar Saada pertaining to the financial year 2019 and the first half of 2020 registered with the AMMC dated 8 January 2021, under the reference n° EN/EM/001/2021.

Program Implemented on: 06/06/2012

Date of the last Update of the Commercial Paper Program : 26/12/2019

Issuance Program Ceiling : MAD 500 000 000

nominal Value: MAD 100 000

Advisory Body

Head of Investment Syndicate

Member of Investment Syndicate

Registration of the Moroccan Capital Market Authority (AMMC)

In accordance with the provisions of the AMMC Circular, this reference document has been registered by the

AMMC as of 8 January 2021 under reference EN/EM/001/2021.

This reference document may only be used as a basis for canvassing or collecting orders in the context of a

financial transaction if it forms part of an information package duly approved by the AMMC.

Annual update of the information package on the commercial paper issuance programme

As at the registration date of this reference document, the AMMC has approved the update of the information package relating to the commercial paper issuance programme. This file is composed of:

  • this reference document;
  • the note relating to the commercial paper programme registered by the AMMC dated 26/12/2019 under reference EN/EM/023/2019 and available on the AMMC website via the following link: http://www.ammc.ma/sites/default/files/NO_RDS_BT_023_2019_0.pdf.

The said update was approved by the AMMC on 8 January 2021 under the reference VI/EM/001/2021

DISCLAIMER

The Moroccan Authority for the Capital Market approved, on: 8 January 2021 under the reference No: VI/EM/001/2021 a Summary Offer Information package for a debt securities issue program of Résidence Dar Saada.

The information package certified by the AMMC is available at any time at Résidence Dar Saada's headquarters, on Résidence Dar Saada's website, www.espacessaada.com, and from its financial advisor. It is also available within 48 hours at the order-collecting establishments. It is also available on the AMMC website (www.ammc.ma).

This summary has been translated by Aaron & Babel under the joint responsibility of that translator and Résidence Dar Saada. In the event of any discrepancy between the contents of this summary and the information package certified by the AMMC, only the certified information package will be considered as authentic.

Summary offer prospectus- Commercial paper issuance program

2

PART I: OVERVIEW OF THE OPERATION

Summary offer prospectus- Commercial paper issuance program

3

  1. OPERATION FRAMEWORK

In accordance with the provisions of Article 15 of Law No. 35-94 promulgated by Dahir No. 1-95-3 of 24 Châabane 1415 (January 26, 1995) and of Order No. 2560-95 of the Minister of Finance and Foreign Investments of 13 Joumada I 1416 (October 9, 1995) relating to Negotiable Debt Securities, the company Résidences Dar Saada issues Commercial Papers to the public, bearing interest to represent a debt for a period of less than or equal to one year.

This issuance program, capped at MAD 500,000,000, was authorized by the Board of Directors gathered on December 20, 2011, which empowered the Chairman of the Board of Directors to set the terms of issue and the characteristics of the said program.

By his letter dated May 28, 2012, the Chairman of the Board of Directors set the said conditions and characteristics as defined in "Part III Characteristics".

Pursuant to Article 17 of the aforementioned law, and as long as the Negotiable Debt Securities are in circulation, the information package shall be updated annually within 45 days after the Ordinary Shareholders' Meeting called to approve the financial statements for the last financial year.

However, occasional updates may be made in the event of a change in the maximum outstanding amount of securities issued or any new event likely to have an impact on changes in the price of securities or the successful completion of the program.

The memorandum relating to the issuance program shall be updated at least 15 days before the effective date of any change relating to the characteristics of the program.

  1. OBJECTIVES OF THE ISSUE

With this debt securities issue programme, the company Résidences Dar Saada aims at:

  • Meeting punctual cash needs generated by variations in the working capital needs in the current year;
  • Optimizing its financing costs;
  • Diversifying its financial sources.

Summary offer prospectus- Commercial paper issuance program

4

Pour lire la suite de ce noodl, vous pouvez consulter la version originale ici.

Disclaimer

Residences Dar Saada SA published this content on 12 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 14:49:01 UTC


© Publicnow 2021
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