ANNOUNCEMENT
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION
OF BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE
ACTION THEY SHOULD TAKE, THEY SHOULD IMMEDIATELY CONSULT THEIR OWN
INDEPENDENT PROFESSIONAL ADVISERS.
THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST
TO THE REGISTERED AND BENEFICIAL OWNERS OF THE BONDS. IF
APPLICABLE, ALL DEPOSITORIES, CUSTODIANS AND OTHER INTERMEDIARIES
RECEIVING THIS NOTICE ARE REQUIRED TO EXPEDITE TRANSMISSION HEREOF
TO BENEFICIAL OWNERS OF THE BONDS IN A TIMELY MANNER. IF
BONDHOLDERS OR BENEFICIAL OWNERS OF THE BONDS ARE IN ANY DOUBT AS
TO THE MATTERS REFERRED TO IN THIS NOTICE, THEY SHOULD CONSULT
THEIR STOCKBROKER, LAWYER, ACCOUNTANT OR OTHER PROFESSIONAL ADVISER
WITHOUT DELAY.
If you have recently sold or
otherwise transferred your entire holding(s) of Bonds referred to
below, you should immediately forward this Notice to the purchaser
or transferee or to the stockbroker, bank or other agent through
whom the sale or transfer was effected for transmission to the
purchaser or transferee.
THE
COVENTRY AND RUGBY HOSPITAL COMPANY PLC - RNS
ANNOUNCEMENT
THE
COVENTRY AND RUGBY HOSPITAL COMPANY PLC (the "Issuer")
£407,239,000
3.246 per cent. Index Linked
guaranteed secured bonds due 30 June 2040
(including £35,000,000 variation bonds)
(with
authority to issue further bonds)
unconditionally and irrevocably guaranteed as to scheduled
payments of principal and interest pursuant to a financial
guarantee policy
issued
by MBIA ASSURANCE S.A. (succeeded
by Assured Guaranty UK
Ltd)
(the
"Bonds")
(ISIN:
XSO159152189 Common Code: 015915218)
In reference to the Project Agreement between
University Hospitals Coventry and Warwickshire National Health
Service Trust, Coventry Primary Care Trust (succeeded by Coventry
and Warwickshire Partnership Trust) and The Coventry and Rugby
Hospital Company Plc, dated 3 December 2002, as amended from time
to time and the Collateral Deed between The Coventry and Rugby
Hospital Company Plc, The Coventry and Rugby Hospital Company
(Holdings) Limited, Mourant & Co. Capital Trustees Limited
(succeeded by Apex Corporate Trustees (UK) Ltd) (As Security
Trustee and Bond Trustee) and MBIA Assurance S.A. (succeeded by
Assured Guaranty UK Limited), dated 3 December 2002. Unless
otherwise defined herein, capitalised terms have the same meaning
as given to them in the Project Agreement, Schedules to the Project
Agreement and Collateral Deed.
As reported in RNS numbers 9113B and 4898R, two
adjudications were commenced to deal with disputes in relation to
the EFVA / AEFVA ("Adjusted Estimated Fair Value of the Agreement")
and in relation to the reporting of deductions.
The Coventry and Warwickshire Partnership
National Health Service Trust and The Coventry and Rugby Hospital
Company PLC (with the consent of Assured Guaranty UK Limited)
agreed to enter into an arrangement whereby the Adjudicator would
make his decisions in the two adjudications simultaneously but not
release them until the earlier of 31 December 2024, or the
occurrence of specific circumstances identified in the agreement to
delay release of the decisions.
The Adjudicator subsequently confirmed that he
has written and signed interim decisions in both adjudications. The
adjudication decisions are therefore not expected to be released
until the expiry of the arrangement.
Enquiries
The Issuer
The Coventry and Rugby
Hospital Company Plc
8 White Oak
Square
Swanley
Kent
BR8 7AG
Attention: Jacques
Mostert, Project Co. Representative.
Important information
This announcement is not a prospectus, is
distributed for information purposes only and does not constitute
or form part of any offer or invitation to issue, acquire or
dispose of any securities in any jurisdiction. Nothing in this
document is intended to amount to an invitation or inducement to
engage in investment activity. Nothing in this document amounts to
the giving of advice. If you are in any doubt as to the action you
should take, you should consult a professional adviser.