13th Dec 2006 12:21
Great Portland Estates PLC13 December 2006 THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTOTHE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE SECURITIES. 13 December 2006 7.25% First Mortgage Debenture Stock due 2027 ("the Stock") In conjunction with a review of its debt capital structure, Great PortlandEstates plc ("GPE") will respond to offers from holders of the Stock who wish tosell their Stock back to GPE, for cancellation, (the "Offer to Repurchase"). The Offer to Repurchase will remain open until 5.00pm (the "Closing Time") on 19December 2006 although GPE reserves the right to terminate the Offer toRepurchase at any time prior to the Closing Time. The redemption price of theStock successfully offered for redemption will be set at or around 11.00am on 20December 2006 for settlement on 28 December 2006. GPE reserves the right tocancel or vary the Offer to Repurchase at any time or for any reason. GPE intends to fund the cost of early redemption of its Stock by drawing on itscredit facilities. GPE will also consider a privately placed further issue ofits 5.625 per cent. First Mortgage Debenture Stock due 2029 to be issued inearly 2007. Contacts: Great Portland Estates plcTimon Drakesmith, Finance Director 020 7647 3034 Barclays CapitalJeremy Froud 020 7773 9634 The Royal Bank of Scotland plcRobert St John 020 7085 3205Andrew Burton 020 7085 8506 The communication of this press release is only being made to those persons inthe United Kingdom who fall within Article 43(2) of the Financial Services andMarkets Act 2000 (Financial Promotions) Order 2005 or any other persons to whomit may otherwise lawfully be made under that Order. Copies of this press release are not being, and must not be, mailed or otherwiseforwarded, distributed or sent in or into or from the United States, and personsreceiving this press release (including custodians, nominees and trustees) mustnot mail or otherwise forward, distribute or send it into or from the UnitedStates. GPE will neither consider nor respond to any communications in respectof offers of Stock made by persons in the United States. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
GPOR.L