Notice of Results of Meeting

RNS Number : 6407S

Silverstone Master Issuer PLC

07 November 2019

 

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL

SILVERSTONE MASTER ISSUER PLC

(incorporated with limited liability in England and Wales under the Registration Number 06612744)

(the Issuer)

NOTICE OF RESULTS OF MEETING

to the holders of its

£550,000,000 Series 2018-1 Class 2A Floating Rate Notes due 21 January 2070

(ISIN: Reg S Notes: XS1770381215 / Rule 144A Notes: XS1770381306)

(the Notes and holders thereof, the Noteholders)

The Issuer announced today that holders of certain of the Notes (as set out in the table below) approved, by an Extraordinary Resolution, a proposal to make certain amendments to the terms and conditions of the Notes and the transaction documents entered into in connection with the Notes issued by the Issuer (the Noteholder Proposal) in respect of the Issuer's residential mortgage backed note programme (the Programme) and the Eligibility and Implementation Condition was satisfied.

The necessary quorum was achieved at a meeting of the Noteholders convened by the Issuer on Thursday 7 November 2019 by the delivery of a notice on Wednesday 16 October 2019 (the Meeting).

The Meeting was held for the purpose of considering and, if thought fit, passing the resolution as set out in the Noteholder Proposal, which resolution was proposed as an Extraordinary Resolution in accordance with the provisions of the Note Trust Deed dated 25 July 2008 (as amended or supplemented from time to time, the Note Trust Deed) made between the Issuer and Citicorp Trustee Company Limited (the Note Trustee) acting as trustee for the noteholders (including holders of the Notes).

Full details of the Noteholder Proposal are set out in the Consent Solicitation Memorandum dated 16 October 2019 (the Consent Solicitation Memorandum).

Capitalised terms used but not otherwise defined herein shall have the meanings ascribed to them in the Consent Solicitation Memorandum.  Capitalised terms used but not otherwise defined herein or in the Consent Solicitation Memorandum shall have the meanings ascribed to them in the Note Trust Deed.

Percentage of outstanding principal amount of the Notes in respect of which voting instructions were submitted and votes cast at the relevant meeting	Quorum reached	Percentage (of the relevant total of votes cast) which were in favour	Extraordinary Resolution passed
88.49%	Yes	88.60%	Yes

NatWest Markets Plc (tel: [phone]; email: [e-mail]; attention: Liability Management) acted as Solicitation Agent, and Lucid Issuer Services Limited (tel: [phone]; email: [e-mail]; attention: David Shilson) was Tabulation Agent for the Consent Solicitation and the Noteholder Proposal.

 

END

 

 

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