Last checked at 26 Mar 2021 10:34
26 March 2021
MARSTON'S PLC
("Marston's" or "the Group")
COVID-19 Update re: Results of Noteholder Consent Request
As previously announced on 4 March 2021, Marston's Issuer PLC (the "Issuer") formally asked the holders of its Secured Class A Notes (the "Noteholders") for a limited number of further technical waivers ("the Proposals") during the second half of 2021 following the lockdown restrictions introduced in December 2020. The waivers being requested are required solely as a consequence of the enforced temporary re-closure of its pubs in England and Wales by the UK Government as a result of the COVID--19 pandemic measures.
The meeting of the Noteholders took place at 10.00am today.
The Group is pleased to confirm that the Noteholders which were present, or represented, at the meeting held 99.93 per cent of the total amount outstanding of the Secured Class A Notes and 92.63 per cent voted in favour of the Extraordinary Resolution regarding the Proposals, thereby giving their consent to the technical waivers and amendments requested by the Issuer.
As a result, the Issuer will now proceed with the implementation of the Proposals.
ENQUIRIES:
Marston's PLC Tel: 01902 329516 | Instinctif Partners Tel: 020 7457 2010/2005 |
Ralph Findlay, Chief Executive Officer | Justine Warren |
Andrew Andrea, Chief Financial and Corporate Development Officer | Matthew Smallwood |
NOTES TO EDITORS
· Marston's is a leading pub operator with a 40% holding in Carlsberg Marston's Brewing Company
· It operates an estate of around 1,500 pubs situated nationally, comprising managed, franchised and leased pubs
· Marston's employs around 11,000 people