Hospital Co (Dartford) Issuer PLC Statement re Bond issue and settlement (5746U)

TIDM35ID

RNS Number : 5746U

Hospital Co (Dartford) Issuer PLC

06 December 2021

30 November 2021

Announcement relating to The Hospital Company (Dartford) Issuer PLC

The Hospital Company (Dartford) Issuer PLC has issued GBP152,525,000, 3.003 per cent. Index-Linked Guaranteed Secured Bonds due 2031 which are subject to a Collateral Deed dated 31 March 2003.

The Hospital Company (Dartford) Issuer PLC's affiliate company, The Hospital Company (Dartford) Limited (Concessionco) has entered into a settlement and amendment agreement with Dartford and Gravesham NHS Trust under which the parties:

   (a)        settle certain historic claims relating to performance and monitoring of the services in consideration for a settlement payment by Concessionco to the Trust;

(b) agree to the joint commissioning of an asset condition survey and fire safety survey in relation to Darent Valley Hospital and the rectification by or on behalf of Concessionco of relevant issues of non-compliance identified by the surveys during a period of relief from performance sanctions under the Concession Agreement that might otherwise be applied;

(c) remove (by variation) soft facilities services (cleaning, portering, laundry, catering, telecoms, car parking and security) from the scope of the Service under the Concession Agreement, so that Concessionco will now only provide the estates and maintenance service; and

(d) amend the Concession Agreement to reflect the removal of the Security and Car Parking Service from the scope of the Service under Concession Agreement and the introduction a new detailed performance monitoring system and a new Service Performance Dispute Resolution Procedure.

Relevant terms of the settlement and amendment agreement are passed down to Serco Limited in a separate settlement and amendment agreement between Concessionco and Serco Limited in consideration for a settlement payment by Serco Limited to Concessionco

This announcement has been made by SPC Management Limited on behalf of The Hospital Company (Dartford) Issuer PLC.

For further information, please contact:

The Hospital Company (Dartford) Issuer PLC

Third Floor, Broad Quay House

Bristol

BS1 4DJ

Telephone: +44(0)20 3405 1300

Fax: +44(0)20 7184 9138

Email: cosec@semperian.co.uk

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