Update on refinancing negotiations

 

TIDMWHY 
 
RNS Number : 0154A 
White Young Green PLC 
01 October 2009 
 

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| For Immediate Release              |                     1 October 2009 | 
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White Young Green plc 
 
 
Update on refinancing negotiations 
 
 
White Young Green plc ("White Young Green" or the "Group") today provides a 
further update on its refinancing negotiations. 
 
 
The test date for White Young Green's financial covenants has been deferred to 
31 October 2009 whilst discussions continue with the Group's lenders. 
 
 
The Board is pleased to report that the Group has made significant progress in 
the discussions with its lenders. Heads of terms regarding a new financing 
structure are currently at an advanced stage, though the proposals are subject 
to some further negotiation and final agreement between the parties. As 
previously announced, a restructuring on the basis of the heads of terms will 
result in a material dilution for existing holders of equity and the Group may 
not, in such circumstances, continue to satisfy the conditions for listing on 
the main market. 
 
 
White Young Green is continuing its discussions with these parties and a further 
announcement will be made in due course. 
 
 
Enquiries: 
 
 
White Young Green         0113 278 7111 
Paul Hamer, Chief Executive Officer 
David Wilton, Group Finance Director 
 
 
 
 
Buchanan Communications     020 7466 5000 
Tim Anderson 
 
 
 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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