Escher Marwick PLC Escher Marwick Plc Company Announcement

Date : 01/07/2020 @ 08:52
Source : RNS Non-Regulatory

Escher Marwick PLC Escher Marwick Plc Company Announcement

TIDMIRSH

Escher Marwick PLC

01 July 2020

Official Announcement

Escher Marwick Plc (the "Issuer")

Company Announcement

Escher Marwick Plc 2017-F1 EUR Secured 7.00% NTS due 2022 ISIN GB00BF0L7628 (together, the "2017-F1 Notes")

The Issuer announces that interest due on the 2017-F1 Notes on 30 June 2020 has not been made to holders of the 2017-F1 Notes.

No Event of Default (as defined in the terms and conditions of the 2017-F1 Notes) has yet been declared.

The security backing the 2017-F1 Notes is described in the Investment Memorandum dated 21 September 2017 and principally consists of contractual rights to income arranged by O.I.B. Open Innovation & Business S.p.a ("OIB").

As a result of the non-payment of such amounts by OIB to the Issuer, the Issuer has insufficient funds to pay interest on the 2017-F1 Notes. No action has yet been taken by the Issuer against OIB in respect of such payments. The obligation of OIB to make such payments to the Issuer continues.

The 2017-F1 Notes are listed on the Frankfurt Stock Exchange.

Capitalised terms used but not defined herein have the meaning given to them in the terms and conditions of the 2017-F1 Notes as set out in the Pricing Supplement dated 21 September 2017 relating to the 2017-F1 Notes.

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.

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July 01, 2020 03:52 ET (07:52 GMT)

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