Consort Healthcare (Tameside) PLC Circ re. stay in restructure plan
05 July 2024 - 8:48PM
RNS Regulatory News
RNS Number : 3548V
Consort Healthcare (Tameside) PLC
05 July 2024
TAMESIDE HOSPITAL PFI
PROJECT
RNS REGARDING STAY OF RESTRUCTURING
PLAN
Consort Healthcare (Tameside)
plc
Stay of Part 26A Restructuring
Plan
London, 5 July 2024 - Consort Healthcare
(Tameside) plc (the "Company"), a project company for the
Private Finance Initiative concession contract to design,
construct, finance, maintain and manage the lifecycle costs of new
hospital facilities in Tameside for the Tameside & Glossop
Integrated Care NHS Foundation Trust (the "Trust") provides an update regarding
its proposed restructuring plan under Part 26A of the Companies Act
2006 in respect of the Company (a "Restructuring Plan").
Pursuant to an order issued by the High Court
of Justice of England and Wales on 24 June 2024, the Company is
required to provide security for costs in favour of the Trust in
amount equal to £463,280.13 by no later than 4:00 p.m. (London
time) on 10 July 2024). The Company will be unable to give this
security and consequently the Restructuring Plan will be
stayed.
The Company continues to discuss its position
with Ambac Assurance UK Limited (as guarantor of the Company's
senior secured bonds) and its other stakeholders and will provide
further updates to the market in due course.
Enquiries
Consort Healthcare (Tameside)
PLC
consorttameside@vercitygroup.com
THIS ANNOUNCEMENT CONTAINS INFORMATION
THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN
THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO.
596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS
AMENDED.
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