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BRIEF-Woolworths Announces Proposal To Restructure Security It Holds On Guarantee Of Masters Leases

Published 11/08/2020, 04:34 pm
Updated 11/08/2020, 04:36 pm
© Reuters.
WOW
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Aug 11 (Reuters) - Woolworths Group Ltd WOW.AX :

* ANNOUNCES A PROPOSAL TO RESTRUCTURE SECURITY WOOLWORTHS HOLDS FOR ITS GUARANTEE OF MASTERS LEASES THAT TRANSFERRED TO HOME CONSORTIUM

* PROPOSAL WOULD SIMPLIFY EXISTING HOME CONSORTIUM ARRANGEMENTS WHILST KEEPING WOOLWORTHS GROUP NO WORSE OFF THAN ITS CURRENT POSITION

* HOME CONSORTIUM WILL SEEK SECURITYHOLDER APPROVAL FOR THIS PROPOSAL AT ITS 2020 AGM

* CONFIRMS PROPOSAL SOLELY RELATES TO SIMPLIFICATION OF SECURITY ARRANGEMENTS

* PROPOSAL DOES NOT REFLECT ANY INTENTION OF CORPORATE ACTIVITY IN RELATION TO HOME CONSORTIUM

* DEAL BETWEEN HICT, HOME CONSORTIUM & CO CONTAINS HICT'S UNDERTAKING TO HOLD 80 MILLION HOME CONSORTIUM STAPLED SECURITIES FOR AN AGREED TIME

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