CVA Approved

 

TIDMDISL 
 
RNS Number : 0764W 
Discover Leisure PLC 
22 July 2009 
 

 
FOR IMMEDIATE RELEASE 
22 July 2009 
 
 
 
DISCOVER LEISURE PLC 
('Discover Leisure' or 'the Group') 
(The specialist caravan and leisure industry retailer) 
 
 
Approval of Company Voluntary Arrangement 
On 15 June 2009 Signlease Limited ("the Company"), Discover Leisure's wholly 
owned trading subsidiary, announced that the unsecured creditors and 
shareholders of the Company approved the terms of a Company Voluntary 
Arrangement ("CVA") proposed by the directors of the Company. 
As previously announced, implementation of the CVA Proposal was subject to the 
expiry of a 28 day period, during which a challenge could be made to the 
relevant courts under the applicable insolvency regime (the "CVA Challenge 
Period"). The CVA Challenge Period expired at midnight on 16 July 2009, without 
any such challenge being made. As a result, the CVA Proposal has become 
effective in accordance with its terms. 
All banking facility documentation has now been fully agreed and signed and the 
facilities implemented. 
 
 
 
 
For further information: 
+-----------+---------------+ 
| Discover  | 01430 803 385 | 
| Leisure   |               | 
| plc       |               | 
+-----------+---------------+ 
| David     |               | 
| Morrow,   |               | 
| Chairman  |               | 
+-----------+---------------+ 
| Trevor    |               | 
| Parker,   |               | 
| Chief     |               | 
| Executive |               | 
+-----------+---------------+ 
| Neil      |               | 
| Harwood,  |               | 
| Finance   |               | 
| Director  |               | 
+-----------+---------------+ 
| Panmure   | 020 7459 3600 | 
| Gordon    |               | 
| (UK)      |               | 
| Limited   |               | 
+-----------+---------------+ 
| Andrew    |               | 
| Godber /  |               | 
| Stuart    |               | 
| Gledhill  |               | 
+-----------+---------------+ 
+--------------------------------------------------+---------------+ 
| Cubitt Consulting                                | 020 7367 5100 | 
+--------------------------------------------------+---------------+ 
| Brian Coleman-Smith / Nicola Krafft              |               | 
+--------------------------------------------------+---------------+ 
 
 
 
 
Background Note 
Discover Leisure is a leading specialist caravan and leisure industry retailer 
which floated on AIM in May 2005. Following the restructuring of the Group's 
activities, it is focused on the retailing of caravans and motor homes in the 
North of England. It also sells a range of outdoor leisure products from its 
branches and over the internet. 
The Group has 5 branches across the North of England located at: Birtley 
(Tyneside), Delamere (Cheshire), Chorley (Lancashire), Darlington 
(County Durham) and York (Yorkshire). Its head office is situated in East 
Yorkshire. 
The board consists of David Morrow, Chairman; Trevor Parker, Chief Executive; 
and Neil Harwood, Finance Director. The Non Executive Directors are Ian Currie 
and Simon Dixon. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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