Last checked at 21 Mar 2018 07:00
MOTHERCARE PLC
Update
Further to the announcement on 2 March 2018, Mothercare plc ("Mothercare") confirms that the discussions with its lenders on the terms of its existing financial facilities are progressing constructively.
Mothercare expects those discussions to conclude before 17 May 2018, the scheduled date for the announcement of its preliminary results, and Mothercare's lenders have agreed to defer the testing of our financial covenants due on 24 March 2018 accordingly. We will make further announcements as and when appropriate.
As previously indicated, we are also exploring additional sources of financing to support and maintain the momentum of our transformation programme and we are engaged in preliminary discussions on securing such additional financing.
ENDS
Investor and Analyst enquiries to:
Mark Newton-Jones, Chief Executive Officer 01923 694935Glyn Hughes, Chief Financial Officer 01923 694935
Media enquiries to:
MHP Communications:
Simon Hockridge / Tim Rowntree 020 3128 8789
Notes:
1. This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
2. The person responsible for the release of this announcement is Alice Darwall, Group General Counsel and Company Secretary at Mothercare plc, Cherry Tree Road, Watford, Hertfordshire, WD24 6SH.
3. LEI number of Mothercare plc: 213800ZL6RPV9Z9GFO74.