RCS - Escher Marwick PLC - Escher Marwick PLC Company Announcement

NanosynthAnnouncement

11/07/2022 13:00

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RNS Number : 0205S  Escher Marwick PLC  11 July 2022

Official Announcement

 

 

Escher Marwick Plc (the "Issuer")

Company Announcement

 

Escher Marwick Plc 2018-F1 GBP Secured 5.00% NTS due 2023 ISIN GB00BFYFCF43
(together, the "2018-F1 Notes")

 

The 2018-F1 Notes are admitted to the official list of the Frankfurt Stock
Exchange and the Singapore Stock Exchange.

 

This announcement is made by the Issuer pursuant to Regulation (EU) No.
596/2014 (the "Market Abuse Regulation") and Regulation (EU) 2016/1055 (the
"Implementing Technical Standards") relating thereto.

 

Capitalised terms used but not defined herein have the meaning given to them
in the terms and conditions of the 2018-F1 Notes as set out in the Pricing
Supplement dated 9 July 2018 relating to the 2018-F1 Notes.

 

NOTICE IS HEREBY GIVEN that the Issuer has, with assistance from the
Servicer, calculated the amounts available to it prior to the Interest Payment
Date falling on 9 July 2022 and has identified a shortfall in the amounts
available to the Issuer in order to make interest payments to Noteholders in
full (the "Shortfall"). Details of the Shortfall are available from the Paying
Agent.

 

The assets and security backing the 2018-F1 Notes are described in the
Investment Memorandum dated 9 July 2018 and principally consist of contractual
rights to income arranged by Apex Aero Ltd (the "Borrower").

 

The Shortfall arises from a shortfall in the payment of monies owed by the
Borrower to the Issuer. To the extent the Issuer is able to recover such
shortfall from the Borrower, the Issuer will pay the Shortfall on either of
the Interest Payment Dates falling on 9 January 2023 and 9 July 2023.

 

Pursuant to clause 23 of the Master Trust Deed, no claim or recourse may be
made against the Issuer in respect of any amount which remains unsatisfied
after the application of funds comprising the assets of the Issuer.

 

 

 

 

 

 

 

 

 

 

 

 

 

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