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Intu Properties PLC (INTU)

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Friday 26 June, 2020

Intu Properties PLC

Update on Creditor Discussions

RNS Number : 1970R
Intu Properties PLC
26 June 2020
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

LEI: 213800JSNTERD5CJZO95

INTU PROPERTIES PLC

26 JUNE 2020

 

UPDATE ON CREDITOR DISCUSSIONS

On 23 June 2020, intu properties plc ("intu") provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant waiver expiry at 11:59 p.m. this evening, 26 June 2020.

Since that update, discussions have continued with the intu Group's creditors in relation to the terms of standstill-based agreements. Unfortunately, insufficient alignment and agreement has been achieved on such terms.

The Board is therefore considering the position of intu with a view to protecting the interests of its stakeholders. This is likely to involve the appointment of administrators.

A further announcement will be made as soon as possible.

The person responsible for arranging the release of this announcement is Susan Marsden, Company Secretary of intu.

ENQUIRIES

intu properties plc

Matthew Roberts  Chief Executive  +44 (0)20 7960 1353

Robert Allen    Chief Financial Officer  +44 (0)20 7960 1360

Adrian Croft  Head of Investor Relations  +44 (0)20 7960 1212

Public relations

UK:  Justin Griffiths, Powerscourt  +44 (0)20 7250 1446

SA:   Frédéric Cornet, Instinctif Partners  +27 (0)11 447 3030

 


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