Renegotiation of loan facility
October 04 2010 - 2:00AM
UK Regulatory
TIDMREOP
RNS Number : 7753T
REO Securities Limited
04 October 2010
Real Estate Opportunities plc
Further re renegotiation of sterling loan facility agreements relating to
Battersea Power Station
The Company announced on 7 September 2010 that the group's GBP225 million power
station facility with Bank of Scotland plc and The Governor and Company of the
Bank of Ireland (on behalf of the National Asset Management Agency) and GBP37.55
million site assembly facility with Bank of Scotland plc have been extended to
31 August 2011 and all existing breaches been waived. The agreement was
conditional, inter alia, on the Company effecting a compromise by 1 October 2010
with the holder of the GBP150 million series A and series B loan notes including
in relation to all principal and interest. Negotiations with the loan note
holder are ongoing and the lenders under the Battersea facilities have agreed to
extend the date for a compromise to be reached to 10 October 2010. A further
announcement will be made in due course.
- END -
For further information please contact:
Real Estate Opportunities plc
Ray Horney, Chairman
Tel: + 44 (0)1273 775 225
Matrix Corporate Capital
Paul Fincham
Tel +44 (0)20 3206 7000
Goodbody Stockbrokers
Linda Hickey, Corporate Broking
Tel +353 1 641 6017
Finsbury
Gordon Simpson/Ed Simpkins
Tel: +44 (0)207 251 3801
Murray Consultants
Ed Micheau
Tel: + 353 1 498 0300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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