Update

RNS Number : 3608I

Mothercare PLC

21 March 2018

 

MOTHERCARE PLC

Update

Further to the announcement on 2 March 2018, Mothercare plc ("Mothercare") confirms that the discussions with its lenders on the terms of its existing financial facilities are progressing constructively.

Mothercare expects those discussions to conclude before 17 May 2018, the scheduled date for the announcement of its preliminary results, and Mothercare's lenders have agreed to defer the testing of our financial covenants due on 24 March 2018 accordingly.  We will make further announcements as and when appropriate.

As previously indicated, we are also exploring additional sources of financing to support and maintain the momentum of our transformation programme and we are engaged in preliminary discussions on securing such additional financing.

ENDS

Investor and Analyst enquiries to:

Mark Newton-Jones, Chief Executive Officer                               01923 694935
Glyn Hughes, Chief Financial Officer                                          01923 694935

Media enquiries to:

MHP Communications:

Simon Hockridge / Tim Rowntree                                               020 3128 8789

Notes:

1.   This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

2.   The person responsible for the release of this announcement is Alice Darwall, Group General Counsel and Company Secretary at Mothercare plc, Cherry Tree Road, Watford, Hertfordshire, WD24 6SH.

3.   LEI number of Mothercare plc: 213800ZL6RPV9Z9GFO74.

 

END

 

 

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