Delay to publication of audited accounts
NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR
INTO OR FROM AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, JAPAN, CANADA OR
SWITZERLAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
GenFinance II plc - £250,000,000 6.064 per cent. Secured Bonds
due 2039
Genfinance II plc (the Issuer) has issued £250,000,000 6.064
per cent. Secured Bonds due 2039 (the Bonds) and the Issuer has on-lent the
proceeds of the Bonds to Notting Hill Genesis (NHG) (formerly as Paddington Churches
Housing Association Limited) pursuant to a bond loan agreement
dated 21 December 2009 (as amended or supplemented from time to
time, the Bond Loan
Agreement).
The terms of the Bond Loan Agreement
include a requirement for NHG to provide to the Issuer and to
M&G Trustee Company Limited (the Bond Trustee) a copy of its audited
accounts for each financial year within 180 days of the end of such
financial year. Similarly, the terms of the Bonds include a
requirement for the Issuer to provide to the Bond Trustee and the
Paying Agent(s) a copy of the audit report and audited consolidated
accounts of the Group for each financial year within 180 days of
the end of such financial year.
The Issuer 2024 financial statements
have been published, but NHG is currently finalising the statements
for its financial year ending 31 March 2024 (the 2024 Financial
Statements). We have ensured the exceptional items mentioned in our
market statement on 28 June 2024 have been thoroughly reviewed and
agreed, and this robust due diligence has taken time. Therefore,
there will be a short delay to completion, subject to concluding on
final validation checks and approvals, that will extend past our
initial deadline of 27 September 2024.
The Issuer has confirmed that, to
the best of its knowledge and belief, there is no reason to believe
that the NHG 2024 Financial Statements will be subject to any audit
qualification and the draft 2024 Financial Statements do not
contain any non-public, price sensitive information about the
Issuer.
The Issuer has sought, and obtained,
the consent of the Bond Trustee to postpone such requirement no
later than 25 October 2024.
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For
further information, please contact:
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Financial enquiries
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Mark Smith, chief financial
officer
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mark.smith@nhg.org.uk
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Media enquiries
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Sanctuary Counsel
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NHG@sanctuarycounsel.com
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