Pearl Group Tier 1 Update
March 12 2010 - 10:03AM
UK Regulatory
TIDMPRLG
RNS Number : 5339I
Pearl Group
12 March 2010
Pearl Group in Substantive Discussions
with Ad Hoc Committee of Noteholders
Pearl Group wishes to confirm that it is in substantive and positive discussions
with the Ad Hoc Committee ("the Committee") of Noteholders to resolve the issues
that have existed between them to date. The Committee represents over 60% of
the holders of the Group's Tier 1 Notes.
Pearl Group hopes to be able to make a full announcement shortly.
Any agreement would be subject to approval by the Group's regulators and other
stakeholders as well as a vote in favour of the proposals by noteholders.
Media:
Daniel Godfrey, Director of Corporate Communications, Pearl Group
+ 44 (0) 20 7489 4517 (DD)
+ 44 (0) 7894 937 890 (Mob)
Andrew Grant, James Bradley, Mal Patel
Tulchan Communications
+ 44 (0) 20 7353 4200
Investors:
Fiona Clutterbuck, Pearl Group
+ 44 (0) 20 7489 4881
Lorraine Rees, Head of Investor Relations, Pearl Group
+44 (0) 20 7489 4456
Notes for Editors
The Tier 1 Notes referred to are Pearl Group Holdings (No. 1) Limited
GBP500,000,000 6.5864% Fixed/Floating Rate Perpetual Reset Capital Securities
ISIN (XS0235245205).
Pearl Group is holding an EGM on 15 March at which shareholders are being asked
to approve a change in name of the company to Phoenix Group Holdings.
Pearl Group will announce its 2009 full year results on 31 March 2010.
Pearl Group expects to seek a premium listing on the London Stock Exchange in
the first half of 2010.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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