Update on refinancing negotiations
01 Outubro 2009 - 3:00AM
UK Regulatory
TIDMWHY
RNS Number : 0154A
White Young Green PLC
01 October 2009
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| For Immediate Release | 1 October 2009 |
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White Young Green plc
Update on refinancing negotiations
White Young Green plc ("White Young Green" or the "Group") today provides a
further update on its refinancing negotiations.
The test date for White Young Green's financial covenants has been deferred to
31 October 2009 whilst discussions continue with the Group's lenders.
The Board is pleased to report that the Group has made significant progress in
the discussions with its lenders. Heads of terms regarding a new financing
structure are currently at an advanced stage, though the proposals are subject
to some further negotiation and final agreement between the parties. As
previously announced, a restructuring on the basis of the heads of terms will
result in a material dilution for existing holders of equity and the Group may
not, in such circumstances, continue to satisfy the conditions for listing on
the main market.
White Young Green is continuing its discussions with these parties and a further
announcement will be made in due course.
Enquiries:
White Young Green 0113 278 7111
Paul Hamer, Chief Executive Officer
David Wilton, Group Finance Director
Buchanan Communications 020 7466 5000
Tim Anderson
This information is provided by RNS
The company news service from the London Stock Exchange
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