Arqiva Financing PLC Update on Closing (7043R)

TIDM20CA

RNS Number : 7043R

Arqiva Financing PLC

01 July 2020

ARQIVA FINANCING PLC ANNOUNCES UPDATE REGARDING THE DATE OF DISPOSAL AND INSTRUCTION FEE PAYMENT DATE IN CONNECTION WITH THE STID PROPOSAL

1 July 2020

Expected Date of Disposal

This announcement is made in connection with the STID Proposal dated 11 May 2020.

Arqiva Financing plc (the "Issuer") announces that the Disposal has not occurred by the end of June 2020 but will occur on a later date which is expected to be on or around 8 July 2020.

Instruction Fees

Subject to the conditions set out in the STID Proposal Memorandum, including the Disposal having occurred and the Minimum Proceeds having been paid into the Segregated Proceeds Account, the Issuer will pay to a holder of the Bonds who delivered a valid Electronic Voting Instruction in respect of the STID Proposal which was validly submitted and received by the Tabulation Agent at or prior to the Instruction Fee Deadline, which had not been validly withdrawn or revoked and remained in full force and effect until the announcement of the results of the STID Proposal, the Instruction Fee equal to 0.15 per cent. of the Principal Amount Outstanding of such Bonds the subject of the relevant Electronic Voting Instruction.

The Instruction Fee will be paid on the Payment Date (which is expected to be on or about 22 July 2020 being the tenth Business Day following the expected date of the occurrence of the Disposal and the Minimum Proceeds having been paid into the Segregated Proceeds Account) via the relevant Clearing System for onward payment to the cash account of an eligible holder of the Bonds in such Clearing System. The payment of any such amounts to the relevant Clearing System will discharge the obligations of the Issuer in respect of the Instruction Fee to all such relevant Bondholder(s).

Capitalised terms used in this announcement and not defined herein have the meanings ascribed to them in the STID Proposal Memorandum dated 11 May 2020 (the "STID Proposal Memorandum") which includes the form of the STID Proposal appended to it in the Schedule.

For Further Information:

Further details on the STID Proposal Consent Solicitation can be obtained from:

The Solicitation Agents

Banco Santander S.A.

2 Triton Square

Regent's Place

London NW1 3AN

United Kingdom

   Telephone:       [phone] 
   Email:               [e-mail] / [e-mail] 
   Attention:         Liability Management 

Merrill Lynch International

2 King Edward Street

London EC1 1HQ

United Kingdom

   Telephone:       [phone] 
   Email:              [e-mail] 
   Attention:         Liability Management Group 

The Tabulation Agent

Lucid Issuer Services Limited

Tankerton Works

12, Argyle Walk

London WC1H 8HA

   Telephone:       [phone] 
   Email:               [e-mail] 
   Attention:         Oliver Slyfield/David Shilson 
   Website:           https://portal.lucid-is.com/deals/arqiva/library 

Disclaimer

This announcement must be read in conjunction with the STID Proposal Memorandum. This announcement is issued by Arqiva Financing plc. None of the Solicitation Agents, the Tabulation Agent, the Obligor Security Trustee or the Bond Trustee accepts any responsibility for the contents of this announcement.

This announcement is released by Arqiva Financing plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the proposals described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Jeremy Mavor (Secretary) at Arqiva Financing plc.

Legal Entity Identifier number:

Arqiva Financing plc - 213800HHECW72RW2QH41

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(END) Dow Jones Newswires

July 01, 2020 05:22 ET (09:22 GMT)