Press comment re Co-operative Bank plc bondholders

RNS Number : 1296O

CLS Holdings PLC

16 September 2013

 



Release date:                16 September 2013

Embargoed until:            Immediate Release

CLS Holdings plc

("CLS", the "Company" or the "Group")

Press comment in relation to the Co-operative Bank plc bondholders

CLS confirms that it holds an interest in Co-operative Bank plc (the "Bank") bonds amounting to £4.3 million nominal, which it has accumulated over time at an aggregate cost below par.  CLS has written to the Bank expressing a number of concerns about the approach being taken in relation to its provisioning and restructuring. CLS, along with other bondholders, believes that a committee should be established to enable a dialogue amongst all stakeholders before the Bank finalises its restructuring proposal.

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For further information, please contact:

CLS Holdings plc                                                         [phone]

www.clsholdings.com   

Sten Mortstedt, Executive Chairman

Henry Klotz, Executive Vice Chairman

Richard Tice, Chief Executive Officer

Liberum Capital Limited                                             [phone]

Tom Fyson

Charles Stanley Securities                                          [phone]

Mark Taylor                                                                  

Kinmont Limited                                                          [phone]

Jonathan Gray

Smithfield Consultants (Financial PR)                         [phone]

Alex Simmons

 

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