26th Mar 2007 11:05
Warner Estate Holdings PLC26 March 2007 Warner Estate Holdings PLC REDEMPTION OF FIRST MORTGAGE DEBENTURE STOCK 2015 Warner Estate Holdings PLC announces that Lancaster Investments Limited, awholly owned subsidiary, has exercised its right under the terms of theDebenture Stock to redeem two First Mortgage Debenture Stocks due in 2015 thatit held with The Prudential Assurance Company Limited. The two debentures that have been redeemed are: Debenture: £12,500,000 @ 9.635% First Mortgage Stock due 2015 Redemption Price: £16,526,050 plus accrued and unpaid interest Redemption Date: Friday 23rd March 2007 Debenture: £10,000,000 @ 11.655% First Mortgage Stock due 2015 Redemption Price: £13,737,120 plus accrued and unpaid interest Redemption Date: Friday 23rd March 2007 The redemption price is greater than the nominal value of the Debenture Stockdue to the terms for early repayment of the Debenture Stock. The redemption of the above Stocks will result in a pre-tax loss of £7.76m whichwill be recognised in the financial statements for the year ended 31st March2007, together with the associated tax relief of £2.3m. The Stocks have been replaced by a three year £60m revolving credit facilitywith Halifax Bank of Scotland. - ends - Date: 26th March 2007 For further information contact: Warner Estate Holdings PLC City Profile Philip Warner, Chairman Simon CourtenayPeter Collins, Finance Director Tel: 020-7488-3244Tel: 020-7907-5100 Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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