Carpetright PLC CVA:Expiry of Statutory Challenge Period (7459P)

TIDMCPR

RNS Number : 7459P

Carpetright PLC

31 May 2018

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT

This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.

LEI: 213800GO32BSNNHXID90

Carpetright plc

("Carpetright" or the "Company" or the "Group")

Company Voluntary Arrangement: Expiry of Statutory Challenge Period

On 26 April and 30 April 2018, Carpetright announced that the unsecured creditors and shareholders of the Company respectively had approved the terms of a company voluntary arrangement proposed by the directors of the Company (the "CVA Proposal").

In accordance with its terms, full implementation of the CVA Proposal remains subject to the satisfaction of certain conditions, including the expiry of a statutory 28 day period, during which a challenge could be made to the relevant courts under the relevant legislation (the "Challenge Period"). The Challenge Period has now expired without any such challenge having been made.

Full implementation of the CVA Proposal is now conditional solely upon completion of the placing and open offer set out in the prospectus published by the Company on 18 May 2018. The expiry of the Challenge Period also satisfies one of the key conditions to the placing and open offer. As set out in the prospectus, the general meeting to approve the placing and open offer is to be held at 4 p.m. on 6 June 2018, with admission of the placing and open offer shares expected at 8 a.m. on 8 June 2018.

 
 Enquiries: 
 Carpetright plc 
  Wilf Walsh, Chief Executive 
  Neil Page, Chief Financial Officer                            01708 802000 
 Peel Hunt LLP (Sponsor, joint bookrunner and joint broker) 
  Dan Webster 
  George Sellar 
  Nicole McDougall                                             020 7418 8900 
 Deutsche Bank AG (Joint bookrunner and joint broker) 
  Simon Hollingsworth 
  Mark Hankinson 
  Adam Miller                                                  020 7545 8000 
 Citigate Dewe Rogerson (Financial PR) 
  Kevin Smith 
  Nick Hayns                                                   020 7638 9571

Notes to Editors

Carpetright plc is Europe's leading specialist floorcoverings and beds retailer. Since the first store was opened in 1988 the business has developed both organically and through acquisition within the UK and other European countries. The Group is organised into two geographical regions, the UK and the Rest of Europe (comprising The Netherlands, Belgium and the Republic of Ireland).

This document is an advertisement and does not constitute a prospectus in connection with an offering of securities of the Company. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the applicable prospectus published by the Company. The subscription or purchase of ordinary shares of the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Persons distributing this communication must satisfy themselves that it is lawful to do so. The Company assumes no responsibility in the event there is a violation by any person of such restrictions.

This document may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States. These materials do not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Securities may not be offered or sold in the United States absent (i) registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or (ii) an available exemption from registration under the Securities Act. The securities mentioned herein have not been, and will not be, registered under the Securities Act and will not be offered to the public in the United States.

Peel Hunt LLP ("Peel Hunt") is authorised and regulated by the Financial Conduct Authority (the "FCA") and is acting exclusively for the Company and no one else in relation to the matters referred to herein and is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.

Deutsche Bank AG, London Branch ("Deutsche Bank") is authorised under German Banking Law (competent authority: European Central Bank) and, in the United Kingdom, by the Prudential Regulation Authority (the "PRA"). It is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority, and is subject to limited regulation in the United Kingdom by the PRA and the FCA. Details about the extent of its authorisation and regulation by the PRA, and regulation by the FCA, are available on request or from www.db.com/en/content/eu_disclosures.html. Deutsche Bank is acting exclusively for the Company and no one else in connection with the matters referred to herein, and Deutsche Bank is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.

No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Peel Hunt or Deutsche Bank or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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