REG - Consort Hlth.T'side - Circ re. stay in restructure plan

Ambac FinancialAnnouncement

05/07/2024 13:00

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RNS Number : 3548V  Consort Healthcare (Tameside) PLC  05 July 2024

TAMESIDE HOSPITAL PFI PROJECT

RNS REGARDING STAY OF RESTRUCTURING PLAN

 

 

Consort Healthcare (Tameside) plc

Stay of Part 26A Restructuring Plan

London, 5 July 2024 - Consort Healthcare (Tameside) plc (the "Company"), a
project company for the Private Finance Initiative concession contract to
design, construct, finance, maintain and manage the lifecycle costs of new
hospital facilities in Tameside for the Tameside & Glossop Integrated Care
NHS Foundation Trust (the "Trust") provides an update regarding its proposed
restructuring plan under Part 26A of the Companies Act 2006 in respect of the
Company (a "Restructuring Plan").

Pursuant to an order issued by the High Court of Justice of England and Wales
on 24 June 2024, the Company is required to provide security for costs in
favour of the Trust in amount equal to £463,280.13 by no later than 4:00 p.m.
(London time) on 10 July 2024). The Company will be unable to give this
security and consequently the Restructuring Plan will be stayed.

The Company continues to discuss its position with Ambac Assurance UK Limited
(as guarantor of the Company's senior secured bonds) and its other
stakeholders and will provide further updates to the market in due course.

 

Enquiries

Consort Healthcare (Tameside) PLC

consorttameside@vercitygroup.com

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS
INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7 OF THE MARKET ABUSE
REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED KINGDOM DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

 

 

 

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