1st Feb 2010 07:00
Wichford P.L.C.
("Wichford" or the "Company")
VBG1 Standstill Agreement
1 February 2010
Wichford's 2009 Annual Report referred to ongoing negotiations in relation to the maturity of the VBG1 facility which had a final maturity date of January 2010. The Board of Wichford P.L.C., the property investment company, issues the following update on negotiations in connection with the maturity of the €69.02m VBG1 Facility within two of its German subsidiaries.
The Borrowers have entered into a standstill agreement with the Servicer until 19 March 2010. The Company has previously indicated during the course of 2009 that it had various options available to it with respect to this facility and a standstill agreement is in line with this position. A number of proposals have been submitted to the Servicer with regard to restructuring the loan and the Company and the Servicer are confident that an agreement, which is beneficial to both the Borrowers and the Lender, can be reached.
For further details, please contact,
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Wichford P.L.C. |
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Philippe de Nicolay |
00 33 1 40 74 42 79 |
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Wichford Property Management Ltd |
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Philip Cooper |
020 7495 7111 |
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Stephen Oakenfull |
020 7811 0100 |
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Citigate Dewe Rogerson |
020 7638 9571 |
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George Cazenove |
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Kate Lehane |
Notes to editors
Wichford P.L.C. (UK Listed: WICH) is a property investment company, with a portfolio focused on investment property occupied exclusively by Central and State Government bodies. Approximately a quarter of the portfolio comprises public sector rented properties in France, Germany and the Netherlands.
Related Shares:
RDI.L