Last checked at 15 Sep 2011 07:00
15 September 2011
Southern Cross Healthcare Group PLC
("Southern Cross" or "the Company")
Corporate Update
Southern Cross announces that it has reached agreement with its lenders on an extension to its banking facilities until 21 September. This further extension allows Southern Cross Group to continue its restructuring which is expected to include a longer term banking agreement. The extension, accompanying the rent concessions by Landlords who have deferred rent payments due in September, will provide support for the process under which it is planned to transition homes to new operators nominated by Landlords, at the same time ensuring continuity of care for residents.
The restructuring process progresses and Southern Cross expects to make a further announcement within the timeframe of the banking facilities extension.
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Enquiries:
Southern Cross Healthcare Group PLC | +44 (0)1325 351100 |
Amy Kroviak, Corporate Communications | |
Financial Dynamics | +44 (0)20 7831 3113 |
John Waples / Ben Brewerton |