REG - ConvaTec Group PLC - Announcement of margin loan <Origin Href="QuoteRef">CTEC.L</Origin>

ConvaTecAnnouncement

14/12/2016 14:05

RNS Number : 8631R
ConvaTec Group PLC
14 December 2016
14 December 2016
ConvaTec Group plc ("ConvaTec" or "The Group") announces that it has been informed that the companies ultimately owned by Nordic Capital and by Avista Capital Partners that hold ordinary shares in ConvaTec (the "Shares") have entered into a loan facility and granted a security interest in favour of the lenders over their Shares, as security for any amounts which may be due from time to time under the facility. The granting of such security is permitted under the lock up arrangements entered into at the time of the IPO, as disclosed in the IPO prospectus dated 26 October 2016.
The companies ultimately owned by Nordic Capital and by Avista Capital Partners that hold Shares remain the beneficial owners of the Shares subject to the pledge and retain full voting rights.
The companies ultimately owned by Nordic Capital and by Avista Capital Partners that hold Shares have total shareholdings in ConvaTec of 849,181,983 and 366,540,257 ordinary shares in ConvaTec, respectively, representing 43.51% and 18.78% respectively, of the total issued share capital of Convatec.
ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. The Group completed its listing on the London Stock Exchange on the 31st October 2016. 
Enquiries:
Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226
Alastair Elwen, Finsbury  +44 (0)207 251 3801
 

This information is provided by RNS
The company news service from the London Stock Exchange
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