Consort Healthcare (Tameside) PLC Circ re. stay in restructure plan

RNS Number : 3548V

Consort Healthcare (Tameside) PLC

05 July 2024

 

TAMESIDE HOSPITAL PFI PROJECT

RNS REGARDING STAY OF RESTRUCTURING PLAN

 

 

Consort Healthcare (Tameside) plc

Stay of Part 26A Restructuring Plan

London, 5 July 2024 - Consort Healthcare (Tameside) plc (the "Company"), a project company for the Private Finance Initiative concession contract to design, construct, finance, maintain and manage the lifecycle costs of new hospital facilities in Tameside for the Tameside & Glossop Integrated Care NHS Foundation Trust (the "Trust") provides an update regarding its proposed restructuring plan under Part 26A of the Companies Act 2006 in respect of the Company (a "Restructuring Plan").

Pursuant to an order issued by the High Court of Justice of England and Wales on 24 June 2024, the Company is required to provide security for costs in favour of the Trust in amount equal to £463,280.13 by no later than 4:00 p.m. (London time) on 10 July 2024). The Company will be unable to give this security and consequently the Restructuring Plan will be stayed.

The Company continues to discuss its position with Ambac Assurance UK Limited (as guarantor of the Company's senior secured bonds) and its other stakeholders and will provide further updates to the market in due course.

 

Enquiries

Consort Healthcare (Tameside) PLC

[e-mail]

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

 

 

 

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