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Pearl Grp Hld (No.1) (36RW)


Monday 27 October, 2008

Pearl Grp Hld (No.1)

Restructure Proposals

RNS Number : 6614G
Pearl Group Holdings (No.1) Ltd
27 October 2008

27 October 2008

Pearl Group Holdings (No. 1) Limited


As part of its drive to ensure consistent accounting treatment (UK GAAP) throughout the Pearl Group, Pearl Group Limited (the ultimate parent company of Pearl Group Holdings (No 1) Limited as issuer of the £500,000,000 6.584% per cent. Fixed/Floating Rate Perpetual Reset Capital Securities) today announces that all subsidiaries of Pearl Group Holdings (No 1) Limited will be transferred at an arm's length consideration to Impala Holdings Limited, the immediate parent of Pearl Group Holdings (No 1) Limited, before 31 December 2008. The consideration for this transfer will be represented by an interest bearing loan to Impala Holdings Limited.  


Following the acquisition of Resolution plc by Pearl Group Limited , which became effective on May 1, 2008, Resolution plc changed its name to Pearl Group Holdings (No 1) Limited. Impala Holdings Limited, a subsidiary of Pearl Group Limited, was the bid vehicle for the successful offer for Resolution plc. 


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