CONSORT HEALTHCARE (TAMESIDE)
PLC
The outstanding 1.9810 per
cent. Index-Linked Guaranteed Secured Bonds due
2041
ISIN
XS0321115130
(the
"Notes")
CHANGE OF OWNERSHIP AND
EXTENSION OF ACCOUNTING REFERENCE DATE
Consort Healthcare (Tameside)
plc
London, 30 August 2024 - (the
"Company"), a project
company for the Private Finance Initiative (PFI) concession
contract to design, construct, finance, maintain and manage the
lifecycle costs of hospital facilities in Tameside for the Tameside
& Glossop Integrated Care NHS Foundation Trust (the
"Trust") provides the
following update regarding the ownership of certain equity and
subordinated debt interests in the group of which the Company is a
member (the "Group") and
change of accounting reference date.
Exercise of Call
Option
As contemplated by the announcement
made by the Company on 31 July 2024, the Company, Consort
Healthcare (Tameside) Holdings Limited ("HoldCo", a holding company of the
Group), Consort Healthcare (Tameside) Intermediate Limited
("Intermediate HoldCo", an
intermediate holding company of the Group which, together with
HoldCo, wholly owns the Company) and Ambac Assurance UK Limited
("Ambac", the Controlling
Creditor and Bond Financial Guarantor (each as defined in the trust
deed for the Notes)) have entered into a call option agreement with
the holders of all of the issued shares in, and subordinated debt
issued by, HoldCo and Intermediate HoldCo, respectively (the
"Instruments"). Pursuant to
such agreement, among other things, Ambac was granted an option
(the "Call Option") over
the Instruments. Ambac has now exercised the Call Option and
the Instruments have been transferred to a nominee of Ambac for
nominal consideration. Accordingly the Group is now
indirectly owned by Ambac.
Change of Accounting
Reference Date
The accounting reference period of
the Company ending 31 December 2023 has been extended so as to end
on 30 June 2024. Subsequent accounting reference periods will
end on the same day and month in future years.
This announcement is given by the
Company.
Enquiries:
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 UNITED KINGDOM
DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018,
AS AMENDED.
