17 Dec 2012 15:19
For Immediate Release 17 December 2012
hibu plc
Update on restructuring process
As previously announced, hibu plc ("the Group") has approached its lenders under its facilities agreement dated 30 November 2009 with a request for various waivers and an amendment including the ability to negotiate with the lenders on a capital restructure. The Group is pleased to announce that this request has now been obtained.
As previously stated, a number of capital structure options are being considered. The Group can confirm that the options being considered are likely to result in little or no value being attributed to the Group's ordinary shares.
Ends
About hibu
hibu helps communities thrive by facilitating millions of connections each year between consumers who want to find products and services locally and the merchants who provide them.
hibu helps consumers find local businesses and shop in new, innovative ways. Its dedicated online hibu markets provide comprehensive, convenient access to local goods and services. hibu helps merchants compete in the digital world with a broad range of marketing and commerce solutions delivered online and through hibu's direct sales teams. Building on its heritage as a premier directories provider, hibu continues to offer a full range of print- and distribution-based marketing services.
hibu operates in the UK, US, Spain, Argentina, Chile, Peru and US Hispanic markets. In the year ended 31 March 2012, hibu had 1.2 million SME customers and total revenues of £1.6 billion.
For further information about hibu, visit hibu.com.
Enquiries
hibu - Investors Andrew Clatworthy Tel: +44 (0) 118 358 2838 | RLM Finsbury Andrew Dowler or Charles Chichester Tel: + 44 (0) 207 251 3801 |