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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Thomas Cook Group Plc | LSE:TCG | London | Ordinary Share | GB00B1VYCH82 | ORD EUR0.01 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.451 | 3.539 | 3.595 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMTCG
RNS Number : 0389N
Thomas Cook Group PLC
20 September 2019
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014
Statement re media speculation on proposed recapitalisation
20 September 2019 - Thomas Cook Group plc ("the Company") notes the recent media speculation regarding its proposed recapitalisation. Discussions to agree final terms on the recapitalisation and reorganisation of the Company are continuing between the Company and a range of stakeholders, including its largest shareholder, Fosun Tourism Group and its affiliates ("Fosun"), the Company's core lending banks and a majority of the Company's 2022 and 2023 senior noteholders.
These discussions include a recent request for a seasonal standby facility of GBP200 million, on top of the previously announced GBP900 million injection of new capital.
The recapitalisation is expected to result in existing shareholders' interests being significantly diluted, with significant risk of no recovery.
The Company will provide further updates in due course.
-ENDS-
This announcement contains forward-looking statements in respect of the Group and its recapitalisation plan. By their nature, these statements involve uncertainty, known and unknown risks and other facts and therefore assurance cannot be given that any particular expectation will be met. In particular, while the Company continues to work towards the implementation of the recapitalisation plan, there can be no assurance that the recapitalisation plan will be implemented unless and until agreements have been reached with several parties and until all conditions are satisfied.
Contact Details:
Hot Features
Premium
Tej Randhawa, Thomas Cook
Analysts & Investors: Group +44 (0) 20 7557 6487
Alex Bird, Thomas Cook Group +44 (0) 20 7294 7023
Matthew Magee, Thomas Cook
Group
Chris Alfred, Thomas Cook +44 (0) 20 7294 7059
Media: Group +44 (0) 20 7294 7203
Nigel Fairbrass, Eterna Partners +44 (0) 7799 894 265
Michael Baker, Eterna Partners +44 (0) 7782 398 418
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 20, 2019 02:00 ET (06:00 GMT)
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