Notice to Bond Holders of £250m 4.25% bonds,
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT 2000 IMMEDIATELY.
whg Treasury PLC
(a public limited company incorporated in England and Wales, with registration number 9138070 under the Companies Act 2006)
(the Issuer)
Notice to the holders of
the £250,000,000 4.25 per cent. Secured Bonds due 2045
(ISIN: XS1115149681)
of the Issuer presently outstanding
(the Bondholders and the Bonds, respectively)
NOTICE IS HEREBY GIVEN to the Bondholders that:
1. the Issuer (as Lender), Walsall Housing Group Limited (as Borrower) and M&G Trustee Company Limited (as Security Trustee) have today entered into a supplemental loan agreement which is supplemental to, and shall be read together with, the loan agreement dated 6 October 2014 and made between the Issuer (as Lender), Walsall Housing Group Limited (as Borrower) and M&G Trustee Company Limited (as Security Trustee) (the Original Loan Agreement) relating to the Bonds (the Supplemental Loan Agreement);
2. the Supplemental Loan Agreement amends, in accordance with clause 14.5.2 of the Original Loan Agreement, certain definitions relevant to the Interest Cover Test. The amendments are made due to changes in reporting standards which affected the calculations of the Interest Cover Test. In agreeing the amendments required, the Lender received a certificate from an auditor certifying that, in their opinion, the ratios contained in the Interest Cover Test after such amendments will have substantially the same effect as the ratios prior to the amendment and prior to the changes in reporting standards; and
3. a copy of the executed the Supplemental Loan Agreement is available for inspection at the principal office of the Issuer.
Unless stated otherwise, capitalised terms used but not defined in this notice shall have the same meaning ascribed to them in the Original Loan Agreement.
This Notice is given by:
whg Treasury PLC
100 Hatherton Street
Walsall
West Midlands, WS1 1AB
Dated 17 July 2025
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