INTU.L

Intu Properties Plc
Intu Properties PLC - Update on Creditor Discussions
26th June 2020, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
RNS Number : 1970R
Intu Properties PLC
26 June 2020
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

LEI: 213800JSNTERD5CJZO95

INTU PROPERTIES PLC

26 JUNE 2020

 

UPDATE ON CREDITOR DISCUSSIONS

On 23 June 2020, intu properties plc ("intu") provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant waiver expiry at 11:59 p.m. this evening, 26 June 2020.

Since that update, discussions have continued with the intu Group's creditors in relation to the terms of standstill-based agreements. Unfortunately, insufficient alignment and agreement has been achieved on such terms.

The Board is therefore considering the position of intu with a view to protecting the interests of its stakeholders. This is likely to involve the appointment of administrators.

A further announcement will be made as soon as possible.

The person responsible for arranging the release of this announcement is Susan Marsden, Company Secretary of intu.

ENQUIRIES

intu properties plc

Matthew Roberts                    Chief Executive                                  +44 (0)20 7960 1353

Robert Allen                            Chief Financial Officer                       +44 (0)20 7960 1360

Adrian Croft                            Head of Investor Relations                 +44 (0)20 7960 1212

Public relations

UK:                                          Justin Griffiths, Powerscourt              +44 (0)20 7250 1446

SA:                                          Frédéric Cornet, Instinctif Partners    +27 (0)11 447 3030

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
STREASKKAALEEEA ]]>
TwitterFacebookLinkedIn