11 Jun 2018 11:11
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
LEI: 213800GO32BSNNHXID90
Carpetright plc
("Carpetright" or the "Company" or the "Group")
Company Voluntary Arrangement: CVA Implementation
On 26 April and 30 April 2018, Carpetright announced that the unsecured creditors and shareholders of the Company respectively had approved the terms of a company voluntary arrangement proposed by the directors of the Company (the "CVA Proposal").
Following the expiry of the statutory 28 day challenge period, full implementation of the CVA Proposal remained subject to the satisfaction of a final condition, namely the receipt of the net proceeds from the Placing and Open Offer.
Carpetright is pleased to announce that following the receipt of the net proceeds of the Placing and Open Offer (£60.0 million), all conditions to the implementation of the CVA Proposal have been satisfied and the CVA Proposal has been implemented in accordance with its terms.
Capitalised terms used in this announcement have the same meanings given to them in the prospectus published by Carpetright on 18 May 2018 in connection with the Placing and Open Offer.
Enquiries:
|
|
Carpetright plc Wilf Walsh, Chief Executive Neil Page, Chief Financial Officer
| 01708 802000 |
Peel Hunt LLP (Sponsor, joint bookrunner and joint broker) Dan Webster George Sellar Nicole McDougall
| 020 7418 8900 |
Deutsche Bank AG (Joint bookrunner and joint broker) Simon Hollingsworth Mark Hankinson Adam Miller
| 020 7545 8000 |
Citigate Dewe Rogerson (Financial PR) Kevin Smith Nick Hayns
| 020 7638 9571 |
Notes to Editors
Carpetright plc is Europe's leading specialist floorcoverings and beds retailer. Since the first store was opened in 1988 the business has developed both organically and through acquisition within the UK and other European countries. The Group is organised into two geographical regions, the UK and the Rest of Europe (comprising The Netherlands, Belgium and the Republic of Ireland).
IMPORTANT NOTICE
These materials may not be published, distributed or transmitted by any means or media, directly or indirectly, in whole or in part, in or into the United States. These materials do not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Securities may not be offered or sold in the United States absent (i) registration under the U.S. Securities Act of 1933, as amended (the "Securities Act") or (ii) an available exemption from registration under the Securities Act. The securities mentioned herein have not been, and will not be, registered under the Securities Act and will not be offered to the public in the United States.
Peel Hunt LLP ("Peel Hunt") is authorised and regulated by the Financial Conduct Authority (the "FCA") and is acting exclusively for the Company and no one else in relation to the matters referred to herein and is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.
Deutsche Bank AG, London Branch ("Deutsche Bank") is authorised under German Banking Law (competent authority: European Central Bank) and, in the United Kingdom, by the Prudential Regulation Authority (the "PRA"). It is subject to supervision by the European Central Bank and by BaFin, Germany's Federal Financial Supervisory Authority, and is subject to limited regulation in the United Kingdom by the PRA and the FCA. Details about the extent of its authorisation and regulation by the PRA, and regulation by the FCA, are available on request or from www.db.com/en/content/eu_disclosures.html. Deutsche Bank is acting exclusively for the Company and no one else in connection with the matters referred to herein, and Deutsche Bank is not, and will not be, responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to the contents of this document or any other matter referred to herein.
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Peel Hunt or Deutsche Bank or by any of their respective affiliates or agents as to, or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.