CCH International plc
04 October 2007
Press Release 4 October 2007
CCH International Plc
('CCH' or 'the Company')
Agreement with principal Bank
Further to the Company's announcement on 16 September, the Company announces
that it has concluded an agreement ('Agreement') with its principal bank
('Bank') in relation to the repayment of funds owed to the Bank over a three
year period.
Pursuant to the Agreement, entered into with inter alia, the Bank and CCH Europe
GmbH ('GmbH') the Company acknowledged its debt to the Bank of US$50m and
guaranteed the obligations of GmbH to the Bank up to a maximum liability of
US$100m. In return, the Bank released the Company from any other claims that
the Bank may have had against the Company with regard to funds advanced
principally to GmbH by the Bank. In addition, GmbH has agreed to pay all sums it
owes the Bank and has guaranteed the obligations of the Company to the Bank
pursuant to the Agreement.
A further announcement will be made in due course in relation to the agreements
entered into with the managing director and majority shareholder, Eren Nil.
- Ends -
For further information, please contact:
CCH International Plc
Ian Salter, Non-Executive Chairman Tel: +44 (0) 20 8334 0871
info@cch-international.com www.cch-international.com
Media Enquires:
Abchurch Communications
Charlie Jack / George Parker Tel: +44 (0) 20 7398 7700
charlie.jack@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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