Punch Taverns PLC Completion of restructuring (7460T)
08 Ottobre 2014 - 9:48AM
UK Regulatory
TIDMPUB
RNS Number : 7460T
Punch Taverns PLC
08 October 2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
PUNCH TAVERNS PLC
("Punch")
Completion of restructuring
Punch is pleased to announce that all remaining conditions to
the restructuring proposals set out in the combined circular and
prospectus dated 18 August 2014 (the "Prospectus") have been
satisfied.
In connection with the restructuring proposals, Punch has issued
a total of 3,771,151,200 new ordinary shares as contemplated by the
Prospectus. Admission of these new ordinary shares to the Premium
Listing segment of the Official List of the UK Listing Authority
and the admission of the new ordinary shares to trading on the
London Stock Exchange's main market for listed securities became
effective, and dealings commenced, at 8:00 a.m. today
("Admission"). Following Admission, there are a total of
4,437,003,420 ordinary shares of Punch in issue.
The proposed consolidation of Punch's ordinary shares (including
the new ordinary shares to be issued pursuant to the restructuring
proposals) into consolidated ordinary shares, on the basis of 1
consolidated ordinary share for every 20 existing ordinary shares
and new ordinary shares is expected to become effective at 8:00
a.m. on 13 October 2014.
An announcement providing further information on the debt
structure of the Punch A and Punch B securitisations will be made
later today following termination of certain interest rate swaps at
completion and the related issue of Super Senior Hedge Notes and a
Super Senior Swap Loan as contemplated by the Prospectus.
8 October 2014
Enquiries:
Punch Taverns plc Tel: 01283 501 948
Stephen Billingham, Executive
Chairman
Steve Dando, Finance Director
Brunswick Tel: 020 7404 5959
Jonathan Glass, Mike Smith
Disclaimer
This announcement is not intended to and does not constitute or
form part of any offer to sell or invitation to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of, any
securities or the solicitation of any vote or approval in any
jurisdiction pursuant to the proposals set out herein or otherwise,
nor shall it (or the fact of its distribution) form the basis of,
or be relied on in connection with, any contract therefor or be
considered a recommendation that any investor should subscribe for
or purchase or invest in any securities.
The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933 as amended (the
"Securities Act") or under any U.S. state securities laws and may
not be offered or sold within the United States unless any such
securities are registered under the Securities Act or an exemption
from the registration requirements of the Securities Act and any
applicable state laws is available.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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