Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Yell Group plc (HIBU)

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Tuesday 30 June, 2009

Yell Group plc

Yell Commences Capital Restru

RNS Number : 7470U
Yell Group plc
30 June 2009

   30 June, 2009

Yell Group plc

Yell Commences Capital Restructuring Process

Trading Update and Short Term Guidance

Yell Group plc (LSE: YELL) ('Yell' or 'the Group') today announces that it has embarked upon a process to comprehensively refinance the Group. This will lead to the Group holding discussions with its debt holders with a view to extending the maturity and changing the terms of its debt facilities and, in due course, to discussions with its principal shareholders. 

These discussions and the resulting processes are expected to take through to the Autumn to complete. 

Yell is today also up-dating the market on current trading and short term guidance.

During this calendar year, the total volume of advertising industry spend has shown marked declines across all media in each of the regions in which the Group operates, as a consequence of the continued economic downturn and uncertainty. Yell believes it continues to out-perform the overall rate of this decline in advertising spend, showing relative resilience, because of its ability to demonstrate to its advertising customers the cost-effectiveness of its services in each of its channels. 

For the first quarter ending June 30, 2009, Yell therefore reaffirms that trading is in line with the guidance and expectations it set on 20 May, 2009, when it published its preliminary results for the year ended 31 March, 2009

At constant exchange rates, Q1 revenues are expected to be around 11% lower, and Q1 EBITDA is expected to be around 20% lower than the comparable period last year. Reported results, reflecting the benefit of the weaker pound, are expected to show revenues up by around 1% and EBITDA down by around 10%. As also guided on May 20, 2009, the reduction in EBITDA stems from the lower revenues and increased planned investment in the quarter relative to one year earlier. Cash flows and cash conversion have remained very strong in the quarter, and covenant headroom at 30 June, 2009, is expected to be around 14% (15% at 31 March, 2009).  

Yell's second quarter is historically a weaker quarter, with revenue growth typically between some 3 to 4 percentage points lower than Q1. Reflecting this and the reduction in total advertising market spend, at constant exchange rates, Yell now expects Q2 revenues to be around 17% lower and Q2 EBITDA to be around 30% lower than the comparable period last year. 

Reported results will again reflect the benefit of the average exchange rates prevailing during the period. (The average exchange rates during Q2 last year were $1.88:£1 and €1.26:£1.) Covenant headroom at 30 September, 2009, is expected to be around 7%.

The Group's cash flows and cash conversion remain strong, and Yell continues to expect to make further repayments of debt after meeting all interest payments. 

Yell will report Q1 2010 results on 23 July, 2009.



Yell - Investors

Yell - Media

Rob Hall

Jon Salmon

Tel                               +44 (0)118 950 6838


+44 (0)118 950 6656

Mobile                        +44 (0)7793 957848


+44 (0)7801 977340

Citigate Dewe Rogerson

Anthony Carlisle

Tel                              +44 (0)20 7638 9571

Mobile                       +44 (0)7973 611888

This information is provided by RNS
The company news service from the London Stock Exchange