Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHIBU.L Regulatory News (HIBU)

  • There is currently no data for HIBU

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Corporate Update

17 Aug 2012 15:01

RNS Number : 2953K
hibu plc
17 August 2012
 



 

 

 

For Immediate Release 17 August 2012

 

hibu plc

Update on restructuring process

 

On 30 July 2012, hibu plc ("the Group") announced that as part of the process of addressing its capital structure it is seeking to form a co-ordinating committee of lenders. Good progress has been made and the Group expects the committee to be in place shortly.

 

Over the coming months, as part of the process leading up to the restructure, the Group anticipates it will also need to discuss and agree a number of waivers with its lenders in order for that process to be completed in a timely manner.

 

As a first step in that process, in order to avoid a potential technical breach under its facilities agreement dated 30 November 2009 (as amended), the Group today announces that it has approached its lenders under that facilities agreement with a request to waive any possible event of default that may arise from certain repeating representations concerning the possibility of a future breach of the leverage covenant. The lenders are not being asked to waive a breach of the leverage covenant itself.

 

Obtaining lenders' consent for this request will provide the necessary stability for the discussions with the co-ordinating committee to proceed.

 

Ends

About hibu

 

hibu helps communities thrive by facilitating millions of connections each year between consumers who want to find products and services locally and the merchants who provide them.

 

hibu helps consumers find local businesses and shop in new, innovative ways. Its dedicated online hibu markets provide comprehensive, convenient access to local goods and services. hibu helps merchants compete in the digital world with a broad range of marketing and commerce solutions delivered online and through hibu's direct sales teams. Building on its heritage as a premier directories provider, hibu continues to offer a full range of print- and distribution-based marketing services.

 

hibu operates in the UK, US, Spain, Argentina, Chile, Peru and US Hispanic markets. In the year ended 31 March 2012, hibu had 1.2 million SME customers and total revenues of £1.6 billion.

 

For further information about hibu, visit hibu.com.

 

Enquiries

hibu - Investors

Andrew Clatworthy

Tel: +44 (0) 118 358 2838

RLM Finsbury

Andrew Dowler or Charles Chichester

Tel: + 44 (0) 207 251 3801

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCLLFSVTRIDLIF
Date   Source Headline
3rd Jan 20085:22 pmRNSDirector/PDMR Shareholding
2nd Jan 20081:05 pmRNSHolding(s) in Company
2nd Jan 200812:43 pmRNSTotal Voting Rights
24th Dec 200712:48 pmRNSHolding(s) in Company
21st Dec 20075:04 pmRNSHolding(s) in Company
21st Dec 20071:13 pmRNSHolding(s) in Company
17th Dec 20074:27 pmRNSHolding(s) in Company
14th Dec 200711:07 amRNSHolding(s) in Company
7th Dec 20073:54 pmRNSHolding(s) in Company
7th Dec 20073:44 pmRNSTotal Voting Rights
7th Dec 20078:00 amRNSInvestor Day
26th Nov 200711:56 amRNSHolding(s) in Company
26th Nov 200710:39 amRNSHolding(s) in Company
16th Nov 20075:52 pmRNSHolding(s) in Company
15th Nov 20075:20 pmRNSHolding(s) in Company
13th Nov 20075:35 pmRNSHolding(s) in Company
13th Nov 200710:46 amRNSHolding(s) in Company
13th Nov 200710:46 amRNSHolding(s) in Company
12th Nov 20076:14 pmRNSDirector/PDMR Shareholding
12th Nov 20075:34 pmRNSDirector/PDMR Shareholding
12th Nov 20074:52 pmRNSDirector/PDMR Shareholding
12th Nov 200710:45 amRNSDirector/PDMR Shareholding
12th Nov 200710:00 amRNSHolding(s) in Company
6th Nov 20077:00 amRNSInterim Results
1st Nov 20079:27 amRNSTotal Voting Rights
26th Oct 20072:55 pmRNSHolding(s) in Company
23rd Oct 200710:23 amRNSNotice of Results
16th Oct 20073:34 pmRNSHolding(s) in Company
11th Oct 20071:23 pmRNSHolding(s) in Company
10th Oct 20073:58 pmRNSHolding(s) in Company
10th Oct 200710:49 amRNSHolding(s) in Company
9th Oct 20075:08 pmRNSHolding(s) in Company
9th Oct 20074:27 pmRNSHolding(s) in Company
9th Oct 20073:45 pmRNSHolding(s) in Company
5th Oct 20074:28 pmRNSHolding(s) in Company
5th Oct 20074:02 pmRNSHolding(s) in Company
5th Oct 20073:50 pmRNSTotal Voting Rights
4th Oct 20077:20 amRNSHolding(s) in Company
1st Oct 20075:21 pmRNSHolding(s) in Company
25th Sep 20074:39 pmRNSHolding(s) in Company
21st Sep 20073:40 pmRNSHolding(s) in Company
3rd Sep 20078:30 amRNSTotal Voting Rights
21st Aug 200712:07 pmRNSHolding(s) in Company
16th Aug 20079:52 amRNSHolding(s) in Company
15th Aug 20073:02 pmRNSHolding(s) in Company
13th Aug 200712:30 pmRNSHolding(s) in Company
7th Aug 200711:13 amRNSHolding(s) in Company
7th Aug 200710:48 amRNSTotal Voting Rights
27th Jul 20073:34 pmRNSHolding(s) in Company
24th Jul 20077:00 amRNSQ1 Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.