RNS Number : 6434K
Pearl Group Holdings (No.1) Ltd
22 December 2008
22 December 2008
Pearl Group Holdings (No. 1) Limited
Reorganisation
On 27 October 2008 Pearl Group Limited (the ultimate parent company of Pearl Group Holdings (No 1) Limited as issuer of the £500,000,000 6.58 per cent. Fixed/Floating Rate Perpetual Reset Capital Securities) announced that all subsidiaries of Pearl Group Holdings (No 1) Limited would 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 and that the consideration for this transfer would be represented by an interest bearing loan to Impala Holdings Limited.
Pearl Group Holdings (No 1) Limited today confirms that the restructure will take place on 31 December 2008 and that the consideration will be determined on arm's length terms on the basis of values calculated as at that date.
Note:
Following the acquisition of Resolution plc by Pearl Group Limited , which became effective on 1 May 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.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
REPUUABRWBRUUAA