QYM Quayle Munro

TIDMQYM

RNS Number : 1715I

Quayle Munro Holdings PLC

28 June 2013

28 June 2013

Quayle Munro Holdings PLC ("Quayle Munro")

Refinancing of Morris Group Limited ("Morris" or the "Group") debt facilities

The Board of Quayle Munro is pleased to announce that the housebuilder Morris, in which Quayle Munro is a 23% shareholder, has today completed a refinancing of its existing debt facilities with a GBP185m loan provided by affiliates of GSO Capital Partners LP. As part of this refinancing, Morris has bought back a minority stake in the Group at a price which would imply an equity value for the whole of Morris of approximately GBP48m. However, it is likely that Quayle Munro's investment in Morris will continue to be accounted for using a discount to net tangible assets.

Enquiries:

N+1 Singer

   Jonny Franklin-Adams                                       +44 (0) 20 7496 3000 

Alex Wright

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