Release date: 16 September 2013
Embargoed until: Immediate Release
CLS Holdings plc
("CLS", the "Company" or the "Group")
Press comment in relation to the Co-operative Bank plc bondholders
CLS confirms that it holds an interest in Co-operative Bank plc (the "Bank") bonds amounting to £4.3 million nominal, which it has accumulated over time at an aggregate cost below par. CLS has written to the Bank expressing a number of concerns about the approach being taken in relation to its provisioning and restructuring. CLS, along with other bondholders, believes that a committee should be established to enable a dialogue amongst all stakeholders before the Bank finalises its restructuring proposal.
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For further information, please contact:
CLS Holdings plc +44 (0)20 7582 7766
Sten Mortstedt, Executive Chairman
Henry Klotz, Executive Vice Chairman
Richard Tice, Chief Executive Officer
Liberum Capital Limited +44 (0)20 3100 2222
Tom Fyson
Charles Stanley Securities +44 (0)20 7149 6000
Mark Taylor
Kinmont Limited +44 (0)20 7087 9100
Jonathan Gray
Smithfield Consultants (Financial PR) +44 (0)20 7903 0669
Alex Simmons
This information is provided by RNS