5th Oct 2010 17:51
5 October 2010
Wren Extra Care Group plc (AIM: WREN)
("Wren" or the "Company")
Company update
Wren announced earlier today, that a subsidiary of the Company (Wren Estates Limited ("Wren Estates")) had received notice demanding the immediate repayment of all sums due to its main lender (the "Lender") under various loan agreements (the "Loan Agreements") and that as a result, Wren Estates was in default under the Loan Agreements. Wren Estates has since confirmed to the Lender that it was not in a position to make repayment of all sums due under the Loan Agreements. As a result, the Lender has appointed GVA Grimley Limited as fixed charge receivers to Wren Estates pursuant to the Law of Property Act 1925 with immediate effect.
Enquiries:
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Wren Extra Care Group Plc |
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James Butterfield Corporate Development Director/ Mike O'Donnell Financial Director |
Tel: 01372 742 244 www.wrenhomesplc.co.uk |
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Shore Capital |
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Pascal Keane |
Tel: 020 7408 4090 |
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Peckwater PR |
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Tarquin Edwards |
Tel: 07879 458 364 |
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