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Name | Symbol | Market | Type |
---|---|---|---|
Endeavour Sch31 | LSE:57OE | London | Bond |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
TIDM57OE
RNS Number : 4470G
Endeavour SCH PLC
01 March 2018
1 March 2018
Announcement of Inside Information relating to Endeavour SCH PLC.
Endeavour SCH PLC has issued GBP137,400,000 Secured Guaranteed Index-Linked Bonds due 2031 which are subject to a Collateral Deed dated 16 August 1999 (Collateral Deed).
On 2 February 2018 Sovereign Hospital Services Limited was placed into liquidation by way of a court order made on that date.
Under the Collateral Deed, Sovereign Hospital Services Limited is the Hotel Service Manager and the Maintenance Service Manager under sub-contracts with Endeavour SCH PLC.
As a result of the liquidation of Sovereign Hospital Services Limited, a Trigger Event has occurred under clause 12.5 of the Collateral Deed and a Potential Acceleration Event has occurred under clause 14.24 of the Collateral Deed.
Endeavour SCH PLC has taken advice and is in the process of taking the necessary steps to cure the Potential Acceleration Event and the resulting consequences. This will involve replacing Sovereign Hospital Services Limited as the Hotel Service Manager and the Maintenance Service Manager. Further details of the steps to be taken and the proposed timing thereof will be published once finalised.
This announcement contains inside information and has been made by HCP Social Infrastructure (UK) Limited as Corporate Company Secretary on behalf of Endeavour SCH PLC.
For further information, please contact:
Endeavour SCH PLC
The Murray Building
James Cook University Hospital
Marton Road
Middlesbrough
TS4 3BW
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUAOVRWUAORAR
(END) Dow Jones Newswires
March 01, 2018 10:33 ET (15:33 GMT)
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