Amendment and Extension of Unsecured Loan Notes

RNS Number : 1852T

EPE Special Opportunities Limited

21 July 2022

 

EPE Special Opportunities Ltd

Amendment and Extension of Unsecured Loan Notes

EPE Special Opportunities Ltd ("ESO") announces that:

i.  holders of 75% or more of the principal amount of ESO's outstanding 7.5% Unsecured Loan Notes due 2022 with ISIN GB00BF0XD821 (the "Notes") have, in accordance with Clauses 1.1(b) and 2 of Schedule 2 to the Loan Note Instrument dated 23 July 2015 constituting the Notes (the "Loan Note Instrument"), passed extraordinary written resolutions authorising ESO to (i) make certain modifications to the Loan Note Instrument and (ii) execute a deed of amendment in respect of the Loan Note Agreement in order to give effect to such modifications;

ii.  ESO yesterday executed such deed of amendment with immediate effect; and

iii.  the effect of the modifications to the Loan Note Instrument is that:

(a) the final repayment date in respect of the Notes shall fall on 24 July 2023 (being the first business day after the eighth anniversary of the Loan Note Instrument);

(b) ESO shall, subject to certain conditions set out in the Loan Note Instrument, have the right, exercisable on or prior to 30 June 2023, to extend the final repayment date in respect of the Notes to 23 July 2024 (being the ninth anniversary of the Loan Note Instrument and also a business day); and

(c) if ESO exercises the right described in (b) above, the interest rate applicable to the Notes shall, in respect of the period following 24 July 2023 until the Notes' revised final repayment date, be increased by 0.5% per annum (to a total of 8% per annum).

The Notes shall henceforth be referred to as ESO's outstanding 7.5% Unsecured Loan Notes due 2023.

The information set out in this announcement summarises the amendments made to the Loan Note Instrument, is not legally binding, and does not purport to modify the Loan Note Instrument or the Notes. Noteholders should refer to the provisions of the amended Loan Note Instrument for precise information on their rights and obligations under the Notes. The provisions of the amended Loan Note Instrument will be posted on ESO's website ( www.epespecialopportunities.com ).

The person responsible for releasing this information on behalf of ESO is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.

Enquiries:

EPIC Investment Partners LLP	[phone]
	Alex Leslie
Langham Hall Fund Management (Jersey) Limited	[phone] Amanda Robinson
Cardew Group Limited	[phone] Richard Spiegelberg
Numis Securities Limited	[phone]
Nominated Advisor:	Stuart Skinner
Corporate Broker:	Charles Farquhar

 

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