REG - Hospital Co Dartford - Statement re Bond issue and settlement

SercoAnnouncement

06/12/2021 15:05

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RNS Number : 5746U  Hospital Co (Dartford) Issuer PLC  06 December 2021

30 November 2021

Announcement relating to The Hospital Company (Dartford) Issuer PLC

The Hospital Company (Dartford) Issuer PLC has issued £152,525,000, 3.003 per
cent. Index-Linked Guaranteed Secured Bonds due 2031 which are subject to a
Collateral Deed dated 31 March 2003.

The Hospital Company (Dartford) Issuer PLC's affiliate company, The Hospital
Company (Dartford) Limited (Concessionco) has entered into a settlement and
amendment agreement with Dartford and Gravesham NHS Trust under which the
parties:

(a)        settle certain historic claims relating to performance and
monitoring of the services in consideration for a settlement payment by
Concessionco to the Trust;

(b)        agree to the joint commissioning of an asset condition
survey and fire safety survey in relation to Darent Valley Hospital and the
rectification by or on behalf of Concessionco of relevant issues of
non-compliance identified by the surveys during a period of relief from
performance sanctions under the Concession Agreement that might otherwise be
applied;

(c)        remove (by variation) soft facilities services (cleaning,
portering, laundry, catering, telecoms, car parking and security) from the
scope of the Service under the Concession Agreement, so that Concessionco will
now only provide the estates and maintenance service; and

(d)        amend the Concession Agreement to reflect the removal of the
Security and Car Parking Service from the scope of the Service under
Concession Agreement and the introduction a new detailed performance
monitoring system and a new Service Performance Dispute Resolution Procedure.

Relevant terms of the settlement and amendment agreement are passed down to
Serco Limited in a separate settlement and amendment agreement between
Concessionco and Serco Limited in consideration for a settlement payment by
Serco Limited to Concessionco

This announcement has been made by SPC Management Limited on behalf of The
Hospital Company (Dartford) Issuer PLC.

For further information, please contact:

The Hospital Company (Dartford) Issuer PLC

Third Floor, Broad Quay House

Bristol

BS1 4DJ

 

Telephone: +44(0)20 3405 1300

Fax: +44(0)20 7184 9138

Email: cosec@semperian.co.uk

 

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