16th Oct 2008 14:08
RNS Number : 0184G
Punch Taverns PLC
16 October 2008
Punch Taverns plc
(the “Company”)
Re Punch B Tender Offer
Punch Taverns announces that The Royal Bank of Scotland plc, as agent for the Company, will today despatch an Invitation Memorandum to holders of Class A8 notes within its Punch Taverns Finance B securitisation (“Noteholders”). The Invitation Memorandum provides that the Company will purchase, or will nominate another company to purchase, for cash certain of the Notes up to an aggregate cost of purchase of £20 million at between 80 and 95 per cent. of the par value of the Notes, as specified by Noteholders in compliance with the provisions of the Invitation Memorandum.
The purpose of this proposal is to more efficiently manage existing cash resources.
This notice is given by:
Punch Taverns plc
16 October 2008
Enquiries:
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Punch Taverns plc
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01283 501728
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Giles Thorley, Chief Executive
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Phil Dutton, Finance Director
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Ed Bashforth, Head of Corporate Finance
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The Royal Bank of Scotland plc
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020 7085 8056 / 3781
Email: [email protected]
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Andrew Burton
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Gianmarco Deiana
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College Hill
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020 7457 2020
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Justine Warren
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Matthew Smallwood
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This information is provided by RNS
The company news service from the London Stock Exchange
Related Shares:
Punch Taverns PLC