Notting Hill Genesis Delay to publication of audited accounts (6548A)

TIDM85FA

RNS Number : 6548A

Notting Hill Genesis

26 September 2022

Delay to publication of audited accounts

Genfinance II plc

26 September 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, JAPAN, CANADA OR SWITZERLAND OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

GenFinance II plc - GBP250,000,000 6.064 per cent. Secured Bonds due 2039

Genfinance II plc (the Issuer) has issued GBP250,000,000 6.064 per cent. Secured Bonds due 2039 (the Bonds) and the Issuer has on-lent the proceeds of the Bonds to Notting Hill Genesis (NHG) (formerly as Paddington Churches Housing Association Limited) pursuant to a bond loan agreement dated 21 December 2009 (as amended or supplemented from time to time, the Bond Loan Agreement).

The terms of the Bond Loan Agreement include a requirement for NHG to provide to the Issuer and to M&G Trustee Company Limited (the Bond Trustee) a copy of its audited accounts for each financial year within 180 days of the end of such financial year. Similarly, the terms of the Bonds include a requirement for the Issuer to provide to the Bond Trustee and the Paying Agent(s) a copy of the audit report and audited consolidated accounts of the Group for each financial year within 180 days of the end of such financial year.

The Issuer's Group has been informed by its auditors, BDO LLP (BDO), that it will be unable to finalise its audit of NHG's financial statements for its financial year ended 31 March 2022 (the 2022 Financial Statements) prior to 27 September 2022, due to issues at BDO LLP, with a senior member of the team being signed off on long-term sick leave at short notice.

On the basis that the cause of delay is due to circumstances which are outside of the control of the Group and the Issuer and NHG has confirmed that, to the best of its knowledge and belief, there is no reason to believe that the 2022 Financial Statements will be subject to any audit qualification and the draft 2022 Financial Statements do not contain any non-public, price sensitive information about the Issuer or the Group, the Issuer has sought, and obtained, the consent of the Bond Trustee to postpone such requirement to 30 November 2022.

For further information, please contact:

Yomi Okunola

Chief Financial Officer

Notting Hill Genesis

Bruce Kenrick House

2 Killick Street

London N1 9FL

Telephone: [phone]

Email: [e-mail]

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September 26, 2022 07:13 ET (11:13 GMT)