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20 Mar 2013 09:46
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CPPGROUP PLC
20 MARCH 2013
UPDATE ON FINANCING OPTIONS
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As announced in its pre-close statement dated 19 December 2012, the Board of CPPGroup Plc ("CPP" or the "Group") has been assessing and actively pursuing a range of financing options with a view to putting funding in place in advance of the maturity of the Group's current debt facilities due on 31 March 2013. Given the impending maturity of the current debt facilities, the Board considers it appropriate to give shareholders an update on such discussions.
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The Board continues to work on a number of financing solutions and, inter alia, continues to have constructive discussions with the Group's existing lenders, but to date no financing solution has been achieved. However, it is clear to the Board that there is significant uncertainty as to what value any such financing solutions may deliver to CPP's ordinary shareholders, particularly given the current trading price of the ordinary shares.
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The Board will make further announcements as necessary in due course.
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Enquiries:
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CPPGroup Plc
Paul Stobart, Chief Executive Officer
Shaun Parker, Chief Financial Officer
Tel: +44 (0) 1904 544 372
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Helen Spivey, Head of Corporate and Investor Communications
Tel: +44 (0) 1904 544387
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Tulchan Communications
John Sunnucks
Martin Robinson
Tel: +44 (0) 20 7353 4200
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Notes to Editors
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CPPGroup Plc (CPP) is an International Assistance business operating across 16 geographical markets with more than 200 Business Partners worldwide. Via its Business Partners, CPP provides Life Assistance products to consumers, which includes annually renewed and packaged products that provide assistance and insurance across a wide range of market sectors helping our customers to live life and worry less.
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For more information on CPP visit www.cppgroupplc.comΒ
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