Carpetright PLC CVA:Expiry of Statutory Challenge Period (7459P)
May 31 2018 - 2:00AM
UK Regulatory
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.
END
MSCQBLFXVEFFBBE
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