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Global Telecom Holding SAE (GTHE.CA)

GTHE.CA on The Egyptian Exchange

4.97EGP
26 Aug 2019
Change (% chg)

£0.00 (+0.00%)
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1,505,079
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Latest Key Developments (Source: Significant Developments)

Veon Announces Approval Of Asset Transfer Offer By GTH Shareholders And Final Payment Of GTH Tax Settlement
Monday, 9 Sep 2019 

Sept 9 (Reuters) - VEON LTD ::VEON ANNOUNCES APPROVAL OF ASSET TRANSFER OFFER BY GTH SHAREHOLDERS AND FINAL PAYMENT OF GTH TAX SETTLEMENT.VEON'S OFFER TO ACQUIRE SUBSTANTIALLY ALL OF OPERATING ASSETS OF GLOBAL TELECOM HOLDING S.A.E. ("GTH") HAS BEEN APPROVED BY GTH'S SHAREHOLDERS.VEON ALSO CONFIRMS THAT SECOND SETTLEMENT PAYMENT OF USD 82.3 MILLION RELATING TO OUTSTANDING TAX LIABILITIES OF GTH AND ITS EGYPTIAN SUBSIDIARIES HAS NOW BEEN PAID BY GTH TO EGYPTIAN TAX AUTHORITY.SAYS GTH HAS RESOLVED ALL OUTSTANDING TAX LIABILITIES IN EGYPT FOR TAX YEARS 2000 THROUGH 2018.  Full Article

EGX Says Moon Capital Partners Master Fund, Moon Capital Master Fund Sell Stake in GTH
Wednesday, 14 Aug 2019 

Aug 14 (Reuters) - EGYPTIAN EXCHANGE::MOON CAPITAL PARTNERS MASTER FUND LTD SELLS 226.7 MILLION SHARES IN GLOBAL TELECOM AT AVERAGE SALE PRICE OF EGP 5.08/SHARE .MOON CAPITAL MASTER FUND LTD SELLS 14.3 MILLION SHARES IN GLOBAL TELECOM AT AVERAGE SALE PRICE OF EGP 5.08/SHARE.  Full Article

Egypt's Global Telecom Q2 Loss Narrows
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - GLOBAL TELECOM HOLDING ::Q2 NET LOSS $25 MILLION VERSUS LOSS OF $25.5 MILLION YEAR AGO.Q2 TOTAL REVENUE $650.8 MILLION VERSUS $693.5 MILLION YEAR AGO.Q2 LOSS ATTRIBUTABLE TO SHAREHOLDERS $40.5 MILLION VERSUS LOSS OF $46.7 MILLION YEAR AGO.  Full Article

Global Telecom Appoints Gerbrand Nijman As CEO
Thursday, 4 Jul 2019 

July 4 (Reuters) - GLOBAL TELECOM HOLDING ::APPOINTS GERBRAND NIJMAN AS CEO.GERBRAND NIJMAN WILL SUCCEED VINCENZO NESCI.  Full Article

Global Telecom Says FRA Approves VEON Offer To Acquire GTH Assets
Wednesday, 26 Jun 2019 

June 26 (Reuters) - GLOBAL TELECOM HOLDING ::ANNOUNCES AGREEMENT WITH ETA TO SETTLE OUTSTANDING TAX LIABILITIES OF GTH AND EGYPTIAN SUBSIDIARIES FOR A TOTAL AMOUNT OF $136 MILLION.FRA HAS APPROVED, ON 26 JUNE 2019, A PUBLIC MANDATORY CASH TENDER OFFER FOR PURCHASE BY VEON HOLDINGS B.V.PURCHASE OF APPROXIMATELY 42.31% OF GTH’S ISSUED SHARES, AT AN ADJUSTED OFFER PRICE OF EGP 5.08 PER SHARE.OFFER FROM VEON HOLDINGS TO ACQUIRE SUBSTANTIALLY ALL OF GTH’S OPERATING ASSETS AT IMPUTED MANDATORY TENDER OFFER VALUATION.REQUEST FROM VEON HOLDINGS TO CALL MEETINGS OF SHAREHOLDERS TO CONSIDER APPROVAL OF DELISTING FROM EGX AND ASSET TRANSFER OFFER.WILL DISCLOSE BOARD OPINION ON OFFER WITHIN 15 BUSINESS DAYS FOLLOWING APPROVAL BY FRA.  Full Article

Global Telecom Updates On Dispute Concerning Sale Of Telecel Globe Limited
Tuesday, 30 Apr 2019 

April 30 (Reuters) - GLOBAL TELECOM HOLDING ::UPDATES ON DISPUTE CONCERNING SALE OF TELECEL GLOBE LIMITED.CO AND NIEL NATURAL RESOURCES INVESTMENTS ENTERED INTO A SHARE PURCHASE AGREEMENT ON 28 MARCH 2013.IN 2019, NIEL COMMENCED ARBITRATION AT LONDON COURT OF INTERNATIONAL ARBITRATION IN RELATION TO DEPOSIT MONIES RETAINED BY CO.SAYS AND IN DUTCH COURTS, NIEL OBTAINED EX PARTE ORDER FREEZING GTH'S BANK ACCOUNTS IN NETHERLANDS AND OTHER PRE-AWARD SECURITY.PLANS TO CONTEST NIEL'S ARBITRATION CLAIMS AND OTHERWISE DEFEND AGAINST ALL PROCEEDINGS AND ACTIONS.  Full Article

Egypt's GTH Board Approves Extension Of Maturity Of $100 Mln Facility Of By VEON
Tuesday, 26 Mar 2019 

March 26 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD APPROVES EXTENSION OF MATURITY OF REVOLVING CREDIT FACILITY OF $100 MILLION OFFERED BY VEON HOLDINGS B. V. .SAYS LOAN OFFERED BY VEON HOLDINGS B. V. MATURING ON 31 MAY 2019 FOR AN ADDITIONAL THREE MONTHS WITH SAME CURRENT TERMS.  Full Article

GTH Board Postpones OGSM Related To Proposed EGP 11.2 Bln Rights Issue
Sunday, 24 Mar 2019 

March 24 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD AGREED TO POSTPONE PLANNED OGSM RELATED TO PROPOSED EGP 11.2 BILLION RIGHTS ISSUE.OGM WAS POSTPONED AFTER VEON PROVIDED A LETTER OF SUPPORT, AS REQUESTED BY GTH, TO ALLEVIATE ITS IMMEDIATE FUNDING REQUIREMENTS.POSTPONED OGM WILL BE HELD ON 26JUNE 2019 IN EGYPT.  Full Article

Veon To Submit Tender Offer For Global Telecom Holding
Tuesday, 5 Feb 2019 

Feb 5 (Reuters) - VEON LTD ::VEON HOLDINGS B.V. ANNOUNCES PLAN TO SUBMIT MANDATORY TENDER OFFER IN RELATION TO GLOBAL TELECOM HOLDING S.A.E..PRICE OF EGP 5.30 PER SHARE.AS OFFEROR HAS NOT YET SUBMITTED MTO TO FRA, VEON IS UNABLE TO COMMENT FURTHER ON THIS MATTER..OFFEROR WILL DEPOSIT MTO WITH FRA WITHIN 60 CALENDAR DAYS OF THIS ANNOUNCEMENT..INTENDS TO DEPOSIT A PUBLIC MANDATORY CASH TENDER OFFER FOR PURCHASE OF UP TO 1,997,639,608 SHARES OF GLOBAL TELECOM HOLDING S.A.E ("GTH"), REPRESENTING APPROXIMATELY 42.31%.AS PREVIOUSLY ANNOUNCED, VEON INTENDS TO TAKE GTH PRIVATE FOLLOWING MTO.  Full Article

Global Telecom Board Approves To Convert Outstanding Shareholder Loans Into Equity
Sunday, 13 Jan 2019 

Jan 13 (Reuters) - GLOBAL TELECOM HOLDING ::BOARD APPROVES TO CONVERT OUTSTANDING SHAREHOLDER LOANS OF $370.6 MILLION PLUS ANY ACCRUED INTEREST FROM DEBT INTO EQUITY.SAYS OUTSTANDING SHAREHOLDER LOANS OF $370.6 MILLION PLUS ANY ACCRUED INTEREST IS BETWEEN GTH AS LENDER AND TELECOM VENTURES AS BORROWER.SAYS GTH’S FINANCIAL POSITION AS WELL AS CASH FLOWS REMAIN UNCHANGED AFTER THE CONVERSION AND THIS IS A NON-CASH TRANSACTION.  Full Article

UPDATE 1-VEON settles Egypt tax liability, paving way to buy Global Telecom shares

CAIRO, June 26 Telecoms operator VEON Ltd has settled a tax dispute with Egypt, the finance ministry said on Wednesday, clearing the way for its potential purchase of the 42.3% stake in its Egyptian subsidiary Global Telecom Holding it does not own.