InspirED Education (S.Lanaks) PLC Result of Meeting (Change of Guarantor) (3998Y)
13 Janvier 2022 - 4:50PM
UK Regulatory
TIDM57AJ
RNS Number : 3998Y
InspirED Education (S.Lanaks) PLC
13 January 2022
13 January 2022
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT
QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE
MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU)
596/2014, AS IT FORMS PART OF UK DOMESTIC LAW ("UK MAR") BY VIRTUE
OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF
BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY
SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL
ADVISERS AUTHORISED UNDER THE FINANCIAL SERVICES AND MARKETS ACT
2000 IMMEDIATELY.
INSPIRED EDUCATION (SOUTH LANARKSHIRE) PLC
(the Issuer)
Incorporated in England and Wales with limited liability under
the laws of England and Wales
with registered number 5502166
GBP166,943,122.50 (originally GBP352,250,000) 2.0854 per cent.
Guaranteed Secured Index-Linked Bonds Due 2038 (XS0257433853) of
the Issuer presently outstanding (the Bonds).
Capitalised terms used but not otherwise defined in this notice
shall have the meaning given to them in the master definitions
agreement dated 22 June 2006 between (among others) M&G Trustee
Company Limited (formerly, Prudential Trustee Company Limited) (the
Bond Trustee) and the Issuer.
Background
On 20 December 2021 the Issuer announced an invitation to
holders of the Bonds (the Bondholders) to consent to a proposal
that the bond guarantee dated 28 June 2006 by Syncora Guarantee
Inc. (SGI) guaranteeing to the Bond Trustee the full and complete
payment by the Issuer in respect of amounts of scheduled payments
owing by the Issuer and outstanding pursuant to the Bonds as
constituted by the Bond Trust Deed (the Existing Guarantee) is
terminated and replaced by guarantees provided by Assured Guaranty
Municipal Corp. (AGM) and Assured Guaranty UK Limited (AGUK) as
co-financial guarantor (the Termination and Replacement) by
approving an extraordinary resolution (the Extraordinary
Resolution). A meeting of the Bondholders (the Meeting) was held
earlier today and the Issuer now announces the results of the
Meeting.
Results of the Meeting
Notice is hereby given to the Bondholders that, at the Meeting
convened on 13 January 2022 the Extraordinary Resolution set out in
the Notice of Meeting dated 20 December 2021 was duly passed.
Accordingly, the Issuer will now proceed to implement the
Extraordinary Resolution and the Termination and Replacement.
Tabulation Agent
The Bank of New York Mellon
One Canada Square
London, E14 5AL
United Kingdom
Tel: +44 (0) 1202 689644
Attention: Debt Restructuring Services
Email: debtrestructuring@bnymellon.com
Market Abuse Regulation
This announcement is released by the Issuer and contains
information in relation to the Bonds that qualified as inside
information for the purposes of the Market Abuse Regulation (EU)
596/2014 as it forms part of domestic law of the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018 ("EUWA")
("MAR"), encompassing information relating to the Bonds. For the
purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055 as it forms part of domestic law of the United
Kingdom by virtue of the EUWA, this Notice is made by Alan Ritchie,
a Director of the Issuer.
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END
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(END) Dow Jones Newswires
January 13, 2022 10:50 ET (15:50 GMT)
Ins. Ed 2.0854% (LSE:57AJ)
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Ins. Ed 2.0854% (LSE:57AJ)
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