COVID-19 Update: Result Noteholder Consent Request

RNS Number : 4522H

Marston's PLC

03 December 2020

 

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

3 December 2020

MARSTON'S PLC

("Marston's" or "the Group")

COVID-19 Update re: Results of Noteholder Consent Request

As previously announced on 11 November 2020, Marston's Issuer PLC (the "Issuer") formally asked the holders of its Secured Class A Notes (the "Noteholders") for a limited number of further technical waivers ("the Proposals") during the first half of 2021 as a precautionary measure following the renewed lockdown restrictions introduced in Wales on 23 October, and in England on 5 November.  The waivers being requested are required solely as a consequence of the enforced temporary re-closure of its pubs in England by the UK Government as a result of the COVID--19 pandemic measures, together with the continued uncertainty with regard to further potential lockdowns over the winter months.

The meeting of the Noteholders took place at 10.00am today. 

The Group is pleased to confirm that the Noteholders which were present, or represented, at the meeting held 99.76 per cent of the total amount outstanding of the Secured Class A Notes and 100 per cent 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: [phone]	Instinctif Partners
Ralph Findlay,  Chief Executive Officer	Justine Warren  Tel: [phone]
Andrew Andrea, Chief Financial and     Co rporat e Development    Officer	Matthew Smallwood  Tel:  [phone]

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.

· It has an estate of 1,379 pubs situated nationally, comprising managed, franchised and leased pubs

· The Group also owns a 40% stake in a new brewing joint venture with Carlsberg, the Carlsberg Marston's Brewing Company.

 

END

 

 

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