Eutelsat Com Regulatory News (ETL)

15 Dec 2006 07:58

Eurotunnel PLC/Eurotunnel S.A.14 December 2006 NEWS Thursday 14 December 2006 Immediate release Bondholders* vote in favour of Eurotunnel safeguard restructuring proposals Eurotunnel is pleased to note the positive vote by bondholders. The bondholderswere called, by the court appointed representatives, to vote this afternoon, 14December 2006, on the proposed safeguard restructuring plan put forward underthe French Safeguard Procedure. 102 bondholders, representing 82.17% of the bond value issued in Euros, byFrance Manche SA, voted in favour of the proposals that were put to them. 88 bondholders, representing 69.22% of the bond value issued in pounds sterling,by Eurotunnel Finance Limited, voted in favour of the proposals that were put tothem. Eurotunnel is grateful to the Mandataires Judiciaires and the AdministrateursJudiciaires (Court appointed representatives) who had encouraged a vote infavour of the plan and whose application of the legal process has beeninvaluable in reaching this stage. Eurotunnel notes with satisfaction that staff representatives in both France andthe UK gave their support to the plan prior to the vote this afternoon. The financial restructuring proposals now adopted by the creditors will be putforward, by the Administrateurs Judiciaires, to the Paris Commercial Court whichwill meet on 18 December. Jacques Gounon, Chairman and Chief Executive of Eurotunnel said, "This voteconcludes two years of intense negotiations and gives us a realistic andbalanced plan which preserves the interests of all stakeholders. If the ParisCommercial Court approves this plan, the next step will be the creation ofGroupe Eurotunnel SA. The shareholders will then, through majority participationin the exchange offer, enable the new Eurotunnel to be born: based on solidfoundations and with real prospects for the future". *Creditors holding bonds representing around 30% of the total debt ofEurotunnel ** Those eligible to vote include registered bondholders and bearer bondholderswho have identified themselves in order to participate in the vote No 104/2006 For media enquiries contact John Keefe on + 44 (0) 1303 284491.Email: John.keefe@eurotunnel.com Ken Cronin +44 788 759 1499 For investor enquiries contact Michael Schuller on + 44 (0) 1303 288 749.Email: michael.schuller@eurotunnel.com www.eurotunnel.com Eurotunnel manages the infrastructure of the Channel Tunnel and operatesaccompanied truck shuttle and passenger shuttle (car and coach) services betweenFolkestone, UK and Calais, France. Eurotunnel also earns toll revenue fromtrain operators (Eurostar for rail passengers, and EWS and SNCF for railfreight) which use the Tunnel. Eurotunnel is quoted in London, Paris andBrussels. This information is provided by RNS The company news service from the London Stock Exchange