Millshaw Sams No.1 Ld Notice to Noteholders (1002K)

TIDMBK75

RNS Number : 1002K

Millshaw Sams No.1 Ld

17 April 2020

THIS NOTICE CONTAINS IMPORTANT INFORMATION OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE NOTES (AS DEFINED BELOW). IF APPLICABLE, ALL DEPOSITARIES, CUSTODIANS AND OTHER INTERMEDIARIES RECEIVING THIS NOTICE ARE REQUESTED TO PASS THIS NOTICE TO SUCH BENEFICIAL OWNERS IN A TIMELY MANNER.

If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately from your stockbroker, bank manager, solicitor, accountant or other financial adviser authorised under the Financial Services and Markets Act 2000 (if you are in the United Kingdom), or from another appropriately authorised independent financial adviser and such other professional advice from your own professional advisors as you deem necessary.

This Notice is addressed only to holders of the Notes (as defined below) and persons to whom it may otherwise be lawful to distribute it ("relevant persons"). It is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this Notice relates is available only to relevant persons and will be engaged in only with relevant persons.

If you have recently sold or otherwise transferred your entire holding(s) of Notes referred to below, you should immediately forward this document to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.

THIS NOTICE DOES NOT CONSTITUTE OR FORM PART OF, AND SHOULD NOT BE CONSTRUED AS, AN OFFER FOR SALE, EXCHANGE OR SUBSCRIPTION OF, OR A SOLICITATION OF ANY OFFER TO BUY, EXCHANGE OR SUBSCRIBE FOR, ANY SECURITIES OF THE ISSUER OR ANY OTHER ENTITY IN ANY JURISDICTION.

MILLSHAW SAMS NO.1 LIMITED

26 New Street

St. Helier

Jersey JE2 3RA

(the "Issuer")

NOTICE

to holders of the following notes of the Issuer

presently outstanding

GBP97,840,000 SAM Notes

(the "Noteholders" and the "Notes", respectively)

Capitalised terms used herein and not otherwise defined shall have the meanings ascribed to them in the offering circular relating to the Notes dated 17 March 1999.

The Issuer wishes to notify the Noteholders that a small group of Borrowers has threatened litigation, asserting that their Mortgage Loans contain an unfair term or amount to an unfair relationship.

Barclays Bank UK PLC, as administrator acting on behalf of and as agent for the Issuer (the "Administrator"), is disputing the merits and the quantum of these claims, and is considering, as for any litigation, whether possible settlement of the claims is prudent and cost effective.

It is not certain that settlement will occur, nor what the aggregate amount of any settlement will be if it does occur. If settlement occurs, it is anticipated it is likely to adversely affect the level of distributions to Noteholders during the course of this financial year and, potentially, may also affect the long term value of the portfolio as a whole.

The Issuer will further update the Noteholders as and when it is appropriate to do so.

Contact Details:

26 New Street

St. Helier

Jersey JE2 3RA

Facsimile: 01534 814815

Attention: Millshaw Sams No.1 Limited - the Company Secretary

This Notice is given by

MILLSHAW SAMS NO.1 LIMITED

as Issuer Dated 17 April 2020

MAR - Inside Information

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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April 17, 2020 11:59 ET (15:59 GMT)

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