11th Oct 2007 10:22
City Greenwich Lewisham Rail Link11 October 2007 NOTICE To the Holders of the Outstanding £165,000,000 9 3/8 per cent. Secured Bonds due October 2020 issued by City Greenwich Lewisham Rail Link PLC Capitalised terms used and not otherwise defined in this Notice shall have themeaning given to them in the bond trust deed dated 11 October 1996 (the "BondTrust Deed"). City Greenwich Lewisham Rail Link PLC (the "Issuer") hereby gives notice to theholders (the "Bondholders") of £165,000,000 9 3/8 per cent. Secured Bonds dueOctober 2020 issued by the Issuer (the "Bonds") that, pursuant to Conditions15.1 and 22.2 of the Bonds, Prudential Trustee Company Limited (the "BondTrustee") as trustee for the Bondholders has consented to the following. 1. The entering into by the Issuer of two agreements in connection with the Project, namely the 3 Car Supplemental Agreement and the Amendment Deed (the "Agreements"). 2. The 3 Car Supplemental Agreement relates to the planned upgrade of the Docklands Light Railway ("DLR") infrastructure proposed by Docklands Light Railway Limited ("DLR Ltd") (the client of the Concessionaire), to permit the operation of trains 3 cars in length. This requires modifications to the infrastructure of the Lewisham Extension. The 3 Car Supplemental Agreement sets out the terms upon which the Issuer and DLR Ltd. have agreed that such modifications should take place. 3. The Amendment Deed provides a formula for the calculation of toll revenue (for the purpose of assessing the Incremental Revenue element of the Usage Fee calculation) in lieu of an actual toll (as contemplated by the Concession Agreement). It also provides a clearer mechanism for adjusting Incremental Revenue for changes in the Fare Index. 4. Both the 3 Car Supplemental Agreement and the Amendment Deed have been signed, and are available for inspection during normal business hours at the registered office of the Issuer, details of which are set out below. 5. In Condition 15.1, the Issuer has covenanted that it will not, among other things, agree to any material amendment to, variation or waiver of any of, the terms and conditions of the Concession Agreement nor any amendment to, variation or waiver of, among other things, any Project Document which would have a Material Adverse Effect. The Bond Trustee, acting on the basis of expert advice and in reliance upon information and certifications provided by the Issuer, has certified to the Issuer that the entry into the Agreements would not have a Material Adverse Effect. Furthermore, pursuant to Condition 22.2 and Clause 12(A) of the Bond Trust Deed, which allow the Bond Trustee to agree, without the consent of the Bondholders, to a waiver of any of the Conditions, the Bond Trustee has agreed to waive any breach of Condition 15.1(a) which may result from the entry into of the Agreements on the basis that so to do will not in its opinion, be materially prejudicial to the interests of the Bondholders. 6. In addition, the Bond Trustee has agreed to designate the Agreements as Project Documents pursuant to the Bond Trust Deed. City Greenwich Lewisham Rail Link PLC 10 October 2007 Registered office: 73 Norman RoadGreenwichLondonSE10 9QF This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Citi Fun 25