SPGH.L Regulatory News (SPGH)

Superglass Holdings Plc

('Superglass' or the 'Company')

Update on Proposed Capital Restructuring

In conjunction with the period-end trading update statement released on 5 September 2011, the Board announced that it was pursuing certain options for a capital restructuring (the 'Restructuring') in collaboration with the Company's bankers, Clydesdale Bank plc (the 'Bank'), and that it had reached agreement in principle with the Bank on headline terms for addressing the debt component of the Restructuring.

It was also announced that it was envisaged that the Restructuring would, subject to the requisite shareholder approvals being granted, incorporate a substantial new equity issue (the 'Proposed Equity Issue'). Significant progress has since been made. More specifically, indicative commitments have been received from equity investors in support of the Proposed Equity Issue for an amount which would be sufficient to secure the recapitalisation of the Company on terms which are acceptable to the Bank, at an indicative issue price of 1p per share.

The Board is in the process of agreeing final amendments to the formal documentation required to support the transaction and the Directors expect to announce full terms of the Proposed Equity Issue and the Restructuring shortly.

In the meantime, the temporary and conditional relaxations and amendments to the Company's existing facility structure previously agreed between the Company and the Bank and described in the announcement of 5 September 2011 have been extended until 30 November 2011.

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Forward-looking statements

This announcement includes forward-looking statements. All statements other than statements of historical fact included within this announcement including, without limitation, those regarding Superglass' financial position, business strategy, plans and objectives of management for future operations, are forward-looking statements. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'plans', 'prepares', 'anticipates', 'expects', 'intends', 'may', 'will' or 'should' or, in each case, their negative or other variations or comparable terminology. Investors should specifically consider the factors identified within this announcement which could cause actual results to differ before making an investment decision. Such forward-looking statements include known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based upon numerous assumptions as to Superglass' present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date at which they are made. Save as required by the Takeover Panel, the FSA, The London Stock Exchange or applicable law, including, without limitation, the City Code, the Prospectus Rules, the Disclosure and Transparency Rules and the Listing Rules, Superglass expressly disclaims any responsibility to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.