REG - Alpha Plus Holdings - Statement in relation to potential share sale
14/06/2023 18:00
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RNS Number : 7514C Alpha Plus Holdings PLC 14 June 2023
14 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR").
ALPHA PLUS HOLDINGS PLC
(the "Issuer)
£130,000,000 5.00 Per Cent. Secured Sterling Bonds due 31 March 2024 (the
Bonds)
STATEMENT
The Issuer has been made aware that on 14 June 2023, its shareholder, DV4
Holdings Alpha Plus Co. Limited (the Shareholder) entered into a sale and
purchase agreement with Inspired UK Holdings Limited (the Purchaser) regarding
the sale of all of the shares in the Issuer to the Purchaser (the Share Sale).
The Issuer understands that completion of the Share Sale is expected to occur
within a matter of months, subject to satisfaction of certain limited
conditions to closing and depending on unforeseen complications. Following the
Completion Date, each Charging Company (other than the Issuer) will remain a
wholly-owned, direct or indirect subsidiary of the Issuer. The Issuer has been
made aware by the Shareholder and the Purchaser that, on the Completion Date,
the Purchaser (as the shareholder of the Issuer on and following the
Completion Date) intends to direct the Issuer to give notice to redeem the
Bonds, in accordance with Condition 5(c) (Redemption at the option of the
Company) and the provisions of the Trust Deed.
Prior to consummation of the Share Sale, the assets relating to DLD College
London, Abbey College Cambridge and Abbey College Manchester (together, the
Colleges and such assets, the College Assets) will be transferred to an
affiliate of the Issuer, such that the College Assets will (upon consummation
of the Share Sale) be retained under the ownership of the Shareholder. The
College Assets do not form part of the Charged Assets and the entities that
own the College Assets and operate the Colleges are not Charging Companies.
This announcement is released by ALPHA PLUS HOLDINGS PLC and contains
information that qualified or may have qualified as inside information for the
purposes of Article 7 of the UK Market Abuse Regulation, encompassing
information relating to the Notes described above. For the purposes of the UK
Market Abuse Regulation, this announcement is made by Jim Bowden, Chief
Financial Officer of Alpha Plus Holdings PLC.
Media enquiries: Dido Laurimore, FTI Consulting, Tel: 020 3727 1000
Ends
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