TIDM69ZM
RNS Number : 1276I
Intu Debenture PLC
30 November 2022
Intu Debenture PLC
Q3 Update and Stockholder Call
INTU DEBENTURE PLC
LEI: 213800UX3TM5RGB1UF29
GBP354,876,000 5.562 per cent. First Mortgage Debenture Stock
2027
INTU DEBENTURE PLC (THE "COMPANY") ANNOUNCES PUBLICATION OF Q3
UPDATE AND SCHEDULED STOCKHOLDER CALL IN RESPECT OF Q3 UPDATE
30 November 2022
Q3 2022 Update
The Company announces (1) the publication of an operation and
market update in respect of trading numbers in the financial
quarter ending on 30 September 2022 (the "Q3 Update"), which is
available on the Company's website at
https://debentureplc.com/quarterlyreports/and (2) the scheduling of
a one-hour call with Stockholders to take place at 11am BST on 6
December 2022 to present and discuss the Q3 Update.
The Q3 Update provides an update with respect to key information
in respect of business operations and market conditions as against
the last quarterly update (in respect of the financial quarter
ending on 30 June 2022) that was made by the Company and the
Company's asset manager, APAM Limited ("APAM") on 21 September
2022. [1]
Scheduled Stockholder Call
The Company has scheduled a one hour call with the Stockholders
to take place at 11am BST on 6 December 2022 (the "Update Call").
On the Update Call, directors of the Company and representatives
from APAM will present a brief overview of the Q3 Update to those
Stockholders who have registered to attend in accordance with the
procedure set out in this announcement ("Registered
Stockholders").
Registered Stockholders will have the opportunity at the end of
the Update Call to ask any clarificatory questions that have arisen
from their review of the Q3 Update (the "Q&A Session").
Commercially sensitive and price sensitive information will not be
discussed or disclosed on the Update Call, including during the
Q&A Session.
Stockholders who wish to join the Update Call must register in
advance, by sending an email to the Company's legal advisers,
Simmons & Simmons LLP ("Simmons"), at
Intudebenture@simmons-simmons.com, on or before 5:00pm BST on 5
December 2022 to confirm their proposed attendance.
Stockholders who register for the call will be provided with an
individualised attendance link to join the Update Call. These
individualised attendance links will allow access to a virtual
"lobby" and a representative of Simmons (the "Host") will admit
attendees to the Update Call from the virtual "lobby". The Company
may require proof of holdings in the Stock (in form and substance
satisfactory to the Company) prior to providing the individualised
attendance link.
In the interests of ensuring a productive call with interested
parties, only one attendee per individualised attendance link will
be admitted from the virtual "lobby" to the Update Call. Therefore,
if multiple members of a Stockholder's organisation wish to attend
the Update Call, it is imperative that each individual contact
Simmons & Simmons LLP, at the above email address, directly to
receive their own individualised registration link.
Prior to the commencement of the Q&A Session at the end of
the Update Call, all attendees, other than the Company and APAM
presenters, will be muted. A hand-raised function during the
Q&A Session will enable individual attendees to be unmuted by
the Host in order to ask their clarificatory questions in relation
to the Q3 Update. The Host reserves the right to mute any
participant at any time in order to ensure a productive and orderly
meeting.
The Update Call will be recorded. For the purposes of the
recording of the Update Call, attendees asking questions will be
expected to announce themselves and their organisation.
Update on Proposed Restructuring
The announcement made on 21 September 2022 announcing the
availability of the Q2 Stockholder update call provided an update
on the anticipated launching of the Notice of Meeting at which
Stockholders would be asked to consider and, if thought fit,
approve an Extraordinary Resolution regarding the proposed
amendment and restructuring transaction (the "Proposed
Restructuring"). The announcement noted that final sign-off by all
parties on the relevant documentation which will effect the
Proposed Restructuring was taking longer than anticipated and that
the launch of the Notice of Meeting had been delayed. Significant
progress has been made on all elements of the Proposed
Restructuring and the Company can confirm that it is not aware of
any material issues with respect to the Proposed Restructuring. The
Company anticipates being in a position to provide a further update
in connection with the Proposed Restructuring within the coming
weeks.
The Company will continue to keep Stockholders notified of any
relevant developments in accordance with applicable law and
regulation.
Capitalised terms used in this announcement and not otherwise
defined shall have the meanings given to them in the Supplemental
Trust Deed dated 30 July 2020 and the trust deed dated 5 October
2006 (as amended and supplemented from time to time and together
with the Supplemental Trust Deed, the "Trust Deed") constituting
the Stock and made between the Company, the Charging Subsidiaries
(as defined in the Trust Deed), and The Law Debenture Trust
Corporation p.l.c. (the "Trustee"), unless the context otherwise
requires.
Please note that the Trustee has not been involved in the
preparation or formulation of the Q3 Update, this announcement or
any announcement in respect of the Q3 Update and will not be
participating in the Update Call and expresses no views or opinions
on the Q3 Update or this announcement. Stockholders are advised to
take their own legal, financial and/or tax advice in relation to
the matters discussed on the Update Call and the Q3 Update.
Stockholders should contact the following for further
information:
Company
Simmons & Simmons LLP
Citypoint
1 Ropemaker Street
London
EC2Y 9SS
United Kingdom
Email: intu@simmons-simmons.com
Attention: James Taylor
Registrar
Link Group
PXS 1
Central Square
29 Wellington Street
Leeds
LS1 4DL
United Kingdom
Telephone: +44 371 664 0300
(Calls are charged at the standard geographic rate and will vary
by provider. Calls outside the United Kingdom will be charged at
the applicable international rate. Open between 09:00 -17:30,
Monday to Friday excluding public holidays in England and
Wales)
Email: shareholderenquiries@linkgroup.co.uk
Alvarez & Marsal Europe LLP and Milbank LLP have been
retained as financial and legal advisers, respectively, to an ad
hoc group of Stockholders. Their respective contact details are as
follows:
ProjectIrisAMTeam@alvarezandmarsal.com and Iris@milbank.com.
This announcement is made by Intu Debenture PLC
Dated: 30 November 2022
[1] Please refer to the Company's RNS of 3 November 2022
regarding the upcoming transition of the role of asset manager for
the Company and its subsidiaries from APAM to Pradera Lateral
Limited. The RNS is available here: RNS - Intu Debenture plc.
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END
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