Intu Debenture PLC 2022 Accounts Delay (0139P)

TIDM69ZM

RNS Number : 0139P

Intu Debenture PLC

06 October 2023

Intu Debenture PLC

Charging Subsidiary Annual Accounts Filing Delay and Event of Default

INTU DEBENTURE PLC

LEI: 213800UX3TM5RGB1UF29

GBP354,876,000 8.75 per cent. First Mortgage Debenture Stock 2027

INTU DEBENTURE PLC (THE "COMPANY") ANNOUNCES CHARGING SUBSIDIARY ANNUAL ACCOUNTS FILING DELAY AND EVENT OF DEFAULT

6 October 2023

Charging Subsidiary Annual Accounts Filing Delay

The Company announces that the annual accounts of the Charging Subsidiaries for the 2022 financial year were not finalised ahead of the 30 September 2023 filing deadline.

The Company continues, together with its asset manager Pradera Lateral Limited ("Pradera") and property manager MAPP (Property Management) Limited ("MAPP"), to work alongside its auditor to finalise the annual accounts for the Charging Subsidiaries for the year ending 31 December 2022. Despite the best efforts of all parties, the Company and Charging Subsidiaries require further time to finalise the accounts and more time is required in order for the auditor to complete its procedures with respect thereto.

Event of Default

Under Clause 22.1.7(i) of the Trust Deed, an Event of Default will occur if default shall be made by the Company or any Charging Subsidiary in the performance or observance of Clauses 8.1 (Financial Statements) to 8.6 (Other) (inclusive) unless the failure to comply is remedied by the Company or Charging Subsidiaries (as applicable) within 10 Business Days of the earlier of (i) the Trustee giving notice to the Company or relevant Charging Subsidiary and (ii) the Company or a Charging Subsidiary becoming aware of the failure to comply. Accordingly, as the Event of Default has not been remedied within 10 Business Days of the Company and Charging Subsidiaries becoming aware of the delay in filing the 2022 Annual Accounts, an Event of Default has occurred.

The Company will continue to keep Stockholders notified of any relevant developments in accordance with applicable law and regulation.

Capitalised terms used in this Notice and not otherwise defined shall have the meanings given to them in the Supplemental Trust Deed dated 5 September 2023 and the trust deed dated 5 October 2006 (as amended and supplemented from time to time and together with the Supplemental Trust Deed, the "Trust Deed") constituting the Stock and made between the Company, the Charging Subsidiaries (as defined in the Trust Deed), and The Law Debenture Trust Corporation p.l.c. (the "Trustee"), unless the context otherwise requires.

Please note that the Trustee has not been involved in the preparation or formulation of this announcement and expresses no views or opinions on this announcement. Stockholders are advised to take their own legal, financial and/or tax advice in relation to this announcement.

Stockholders should contact the following for further information:

Company

Simmons & Simmons LLP

Citypoint

1 Ropemaker Street

London

EC2Y 9SS

United Kingdom

Email: intu@simmons-simmons.com

Attention: James Taylor

Registrar

Link Group

PXS 1

Central Square

29 Wellington Street

Leeds

LS1 4DL

United Kingdom

Telephone: +44 371 664 0300

(Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. Open between 09:00 -17:30, Monday to Friday excluding public holidays in England and Wales)

Email: shareholderenquiries@linkgroup.co.uk

This announcement is made by Intu Debenture PLC

Dated: 6 October 2023

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END

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October 06, 2023 07:16 ET (11:16 GMT)

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