RNS this morning. The company claims there was no damage, so why an rns? Sold and will look for a lower entry point.
Looks like something has leaked. Up 30% today.
Premier Foods plc Partial redemption of Senior Secured Notes
Intraday Premier Foods Chart
Intraday Premier Foods Chart
06/10/2020 7:00am
UK Regulatory (RNS & others)
TIDMPFD TIDMIRSH
RNS Number : 1596B
Premier Foods plc
06 October 2020
6 October 2020
Premier Foods plc
("Premier Foods" or "the Group")
Partial redemption of Senior Secured Floating Rate Notes due July 2022 (the "Notes")(1)
The Group announces that, it has provided a certificate to HSBC Corporate Trustee Company (UK) Limited, as Trustee, and HSBC Bank plc, as paying agent, for the Group's Notes due July 2022, notifying of its intention to redeem GBP40 million of the GBP130 million outstanding. This is in line with requirements of the Indenture of the Notes(2) and is further to the GBP80 million redemption completed in June this year.
This partial redemption reflects the Group's strong trading momentum during the first half of this financial year together with further progress on reducing Net debt. As the Group continues on its path to deleverage the business, its intention is to utilise future free cash flow to reduce its cost of financing. Following the completion of this partial redemption of Notes, the Group expects to save approximately GBP2m per annum in interest costs.
Further to the certificate, the Group hereby confirms that, pursuant to the terms of the Indenture(2) , GBP40 million of the Notes will be redeemed at par, plus accrued and unpaid interest up to, but excluding, the redemption date(3) . The redemption date is 1 December 2020 and the record date is 30 November 2020.
There are no other changes to the Group's capital structure following this announcement. The Group's GBP300m Senior Secured fixed rate Notes due October 2023 and its GBP176.6m committed Revolving Credit Facility with its lending bank group, which was undrawn at the end of September, are unchanged.
Half year results announcement
The Group will release its Half year results for the 26 weeks ended 26 September 2020 on 10 November 2020; further details will be provided in due course.
https://uk.investing.com/news/stock-market-news/italys-newlat-food-has-offered-bid-for-britains-hovis--source-2225970
The news is starting to spread. Should see lots of traders turning up soon.
XAR Raised to Buy at Investec; target price 160 pence"
We should get a good week, ahead of the results.
Share Talk, please could you also post on Addicted2shares on Fbook, as we have traders interested in GDR there.
Strangely it is NT to sell at 135p. Price is 135/136p.
This is just starting to hit other bulletin boards. You should start seeing a flood of buys ahead of the rns.
Cheers. Copied and pasted to Addicted2shares on Fbook.
People buying in for results, and price starting to tick up.
Price is now 128/129p and they are willing to sell to me at 128p. Get ready for tree shake!
Just bought a small amount, as price started to tick up.
Like I said, it will bounce from here.
yep
Nice to see TPT ticking up again.
Normally bounces from this range.
Unemployment figures later in the day, so no movement till then.
Just been offered 8.6p for my shares.