REG - Marston's Plc - COVID-19 Update Results Noteholder Consent Request

MarstonsAnnouncement

29/05/2020 10:50

RNS Number : 3791O
  
Marston's PLC
  
29 May 2020
  
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
 

                                                                                                                  
29 May 2020
 
MARSTON'S PLC
("Marston's" or "the Group")
 
COVID-19 Update re: Results of Noteholder Consent Request
 
As previously announced on 7 May 2020, Marston's Issuer PLC (the "Issuer") formally asked the holders of its Secured Class A Notes (the "Noteholders") for a limited number of technical waivers and amendments (the "Proposals"), as a consequence of the enforced temporary closure of its pubs by the UK Government as a result of the COVID--19 pandemic measures.   
The meeting of the Noteholders took place at 10 a.m. today.  
The Group is pleased to confirm that the Noteholders which were present, or represented, at the meeting held 99.55 per cent of the total amount outstanding of the Secured Class A Notes and 96.12% voted in favour of the Extraordinary Resolution regarding the Proposals, thereby giving their consent to the technical waivers and amendments requested by the Issuer. 
As a result, the Issuer will now proceed with the implementation of the Proposals.
ENQUIRIES:



Marston's PLC      Tel: 01902 329516


Instinctif Partners          




Ralph Findlay,      Chief Executive Officer


Justine Warren               Tel: 020 7457 2010




Andrew Andrea, Chief Financial and  
                              Corporate Development
                              Officer


Matthew Smallwood    Tel:  020 7457 2005



 
For the purposes of the Market Abuse Regulation (EU) 596/2014 and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this Announcement is made by Anne-Marie Brennan at Marston's PLC.
 
NOTES TO EDITORS
 
·      Marston's is a leading pub operator and independent brewer.
·      It has an estate of around 1,400 pubs situated nationally, comprising managed, franchised and leased pubs.
·      It is the UK's leading brewer of premium cask and packaged ales, including Hobgoblin, Wainwright, Marston's Pedigree and 61 Deep, The portfolio also includes beers brewed at Banks's, Jennings, Wychwood, Ringwood, and Eagle Breweries and also includes McEwan's, Courage, Bombardier, Brakspear and Mansfield beers.  To complement the UK portfolio, Marston's operate a number of brands under license with global brand owners such as Estrella Damm, Erdinger, Shipyard and Kirin.
·      Marston's employs around 14,000 people.


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