WNER Wt Wner Usd

TIDMWNER

RNS Number : 7986L

Warner Estate Holdings PLC

16 August 2013

Warner Estate Holdings PLC

("the Group")

Interim Management Statement

As the Group announced, 30(th) July, negotiations continue with its lenders and other key stakeholders regarding options to realise value for the security held by those lenders over the asset management business and units in the Ashtenne Industrial Fund whilst providing continuity of asset management services to the funds the Group manages. The options being discussed would not realise enough value to repay the outstanding debt in full, a position that can result in an insolvency process.

As previously reported, the Group remains reliant on the continuing support of its lenders and other key stakeholders particularly because at certain times the cash held by the business will be low and headroom will be marginal.

The outcome of these negotiations will determine the Group's future. The Board believes that there is little or no value to existing shareholders whatever the outcome of these negotiations.

Date: 16 August 2013

-ends-

For further information contact:

Warner Estate Holdings PLC

Philip Warner, Chairman

Mark Keogh, Group Managing Director

Robert Game, Group Managing Director, Property

Tel: 020 7907 5100

Numis Securities Ltd

Heraclis Economides

Tel: 020 7260 1224

This information is provided by RNS

The company news service from the London Stock Exchange

END

IMSGGUBWRUPWGPA

Grafico Azioni Wt Wner Usd (LSE:WNER)
Storico
Da Ott 2024 a Nov 2024

Grafico Azioni Wt Wner Usd (LSE:WNER)
Storico
Da Nov 2023 a Nov 2024