Business
Corporate Update
Corporate Update.
About this update from Distribution Finance Capital Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9031X Distribution Finance Cap. Hldgs PLC 23 December 2019 \n\n \n23rd December 2019\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.\n \nDistribution Finance Capital Holdings plc\n(\"DFC\" or the \"Company\" or together with its subsidiaries the \"DFC Group\")\n \nCorporate Update \n \n \n \nIn November 2019, the Company announced the departure of the former Chief Executive Officer and that such a change of management constituted a waivable early amortisation event pursuant to the DFC Group's funding facilities with its senior and senior mezzanine facility lenders (the \"Lenders\"). The Company informed the Lenders of the change in management immediately and then sought a waiver of this provision in accordance with the terms of the DFC Group's funding facilities. \n \n \nThe DFC Group today announces that, following such request, it has been granted a waiver by each Lender, subject to certain terms and conditions, and in accordance with which the funding facilities provided by the Lenders will remain in place. Our Lenders, shareholders and other interested parties are, as to be expected, monitoring the Company's progress concerning the appointment of a permanent Chief Executive Officer and the obtaining of a banking licence. During the first quarter 2020, the Lenders will continue to review the Company's funding facilities and wider business plans in light of progress in respect of these matters and the continued performance of the book. The Company will make a further update as appropriate at the time of, or before, the Company's full year results which are expected to be released in April 2020. \n \n \nThe person responsible for arranging for the release of this announcement on behalf of DFC is Henry Kenner.\n \nEnquiries:\n \nDistribution Finance Capital Holdings plc\nHenry Kenner, Acting Chief Executive Officer +44 (0) 20 3937 6436\nhtt...