Debenhams plc - Notice to Holders of Debenhams plc notes due 2021
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.
NOTICE TO THE HOLDERS OF THE
For the avoidance of doubt only the Company (which was the
Immediately following their appointment, the Joint Administrators sold the Company's shares in the Group, to
The Transaction delivers continuity for all Group operations. It minimises business disruption, ensures continuity for the businesses and their suppliers and protects the Group's employees. It also allows additional funding of up to
More information in relation to the Company's administration and the Transaction can be found on the
The affairs, business and property of the Company are being managed by the Joint Administrators,
This announcement is released by
Debenhams plc (in administration) and contains information in relation to the Notes that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Transaction described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Chad Griffin, Joint Administrator acting as agent and without personal liability.
This notice is given by:
9 April 2019
LETTER TO THE HOLDERS OF THE
Debenhams plc ( In Administration) ("the Company") Company Number: 05448421
I confirm that
a.m. on 9 April 2019. The appointment was made by secured lenders under the provisions of Paragraph 14 of Schedule B1 to the Insolvency Act 1986. A notice has also been issued to the
Immediately following our appointment, we sold the Company's shares in
I have a duty to provide all creditors with the Joint Administrators Statement of Insolvency ("SIP") 16 disclosure, this sets out the justification behind the Transaction and why it provides the best outcome for creditors. Our SIP16 disclosure is available on the following website: http://www.fticonsulting-emea.com/cip/debenhams-plc. Further statutory reports and information on the administration will also be made available on this website.
It is anticipated that the Transaction will have limited impact upon holders of the
- as a result of the recent consent solicitation, the appointment of administrators does not trigger an event of default so the Notes cannot be accelerated as a result of such appointment;
- it is intended that
- the Notes are guaranteed by a number of the Company's subsidiaries and these guarantees will remain in place under the Group's new ownership;
- as stated above, Newco has acceded to the Notes as an additional subsidiary guarantor, and
- if the Company is replaced as issuer (as referred to above) it will in any event continue to be a guarantor of the Notes.
For and on behalf of the Company
The affairs, business and property of the Company are being managed by the Joint Administrators. The Joint Administrators act as agents of the Company and without personal liability.
This announcement has been issued through the Companies Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the
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