61RH Notting Hill 42

TIDM61RH

RNS Number : 2683H

Notting Hill Housing Trust

09 March 2018

Information to Bondholders

Following confirmed approval by shareholders of Notting Hill Housing Trust (NHHT) and Genesis Housing Association (GHA) at special general meetings on February 1, 2018 it is expected that NHHT and GHA will be amalgamated together to form one new society subject to regulatory approval and other conditions precedent in early April 2018.

The amalgamation will proceed pursuant to the statutory amalgamation procedure in the Co-operative and Community Benefit Societies Act 2014, under which the property of each association, including its financial obligations, will vest in the amalgamated society.

Accordingly the current obligations of NHHT and GHA under their existing bonds and to the holders of those bonds will become obligations of the new society immediately upon amalgamation. The current NHHT and GHA will automatically cease to have any ongoing obligations under those bonds from the point of amalgamation.

Prior to the amalgamation the Board of GHA, NHHT and the Board members (designate) of the new society, Notting Hill Genesis (NHG), are ensuring that as far as technically possible preparatory actions are taken to ensure an effective transition at the point of amalgamation.

In particular, as regards the existing bonds issued by the Genesis group and NHHT, application has been made to Standard & Poor's to issue a rating for the new society, NHG, as the substituted issuer and/or ultimate borrower under the bonds upon amalgamation. It is expected that such rating will be issued on or about the date of the amalgamation.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBGGDXCXGBGIC

(END) Dow Jones Newswires

March 09, 2018 05:44 ET (10:44 GMT)

Notting Hill 42 (LSE:61RH)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

Notting Hill 42 (LSE:61RH)
Historical Stock Chart
Von Dez 2023 bis Dez 2024