Restructuring update (6252W)
22 Novembro 2010 - 4:22PM
UK Regulatory
TIDMCTT
RNS Number : 6252W
Cattles PLC
22 November 2010
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
22 November 2010
Cattles plc
Restructuring update
On 22 October 2010, Cattles plc ("Cattles") announced that
Cattles, Welcome Financial Services Limited ("WFSL") and other
members of the Group continue to engage in discussions with
representatives of certain of their key financial creditors and
other stakeholders in order to progress proposals for a consensual
restructuring.
In that announcement, Cattles also confirmed that, at that time,
discussions envisaged that, as part of a restructuring and subject
to certain conditions, Cattles would compromise its subordinated
inter company claims against WFSL and other subsidiaries in the
Group for not less than GBP39 million.
Cattles has been informed today by representatives of certain of
the key financial creditors of WFSL that they continue to support
proposals for a consensual restructuring including a compromise of
Cattles' subordinated inter company claims against WFSL and other
subsidiaries in the Group, however, for an amount which may be less
than GBP39m.
Cattles is continuing to discuss this matter further with WFSL
and the representatives of those key financial creditors. A further
announcement will be made when appropriate.
For further information, please contact:
Paul Marriott, Financial Dynamics 020 7269 7252
This information is provided by RNS
The company news service from the London Stock Exchange
END
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