Company name Deco 12-UK 4 plc
Headline Appointment of Receivers


RNS Number : 4077K
Deco 12-UK 4 plc
20 August 2012
 

FORM OF RIS NOTIFICATION

To:                   The Irish Stock Exchange Limited

28 Anglesea Street

Dublin 2

Ireland

 

Headline:          Appointment of Receivers

Date:                20 August 2012

 

DECO 12 - UK 4 P.L.C. (Issuer)

£475,000,000 Class A-1 Commercial Mortgage Backed Floating Rate Notes due 2020

£115,000,000 Class A-2 Commercial Mortgage Backed Floating Rate Notes due 2020

£35,000,000 Class B Commercial Mortgage Backed Floating Rate Notes due 2020

£28,000,000 Class C Commercial Mortgage Backed Floating Rate Notes due 2020

£16,000,000 Class D Commercial Mortgage Backed Floating Rate Notes due 2020

£2,750,000 Class E Commercial Mortgage Backed Floating Rate Notes due 2020

£1,133,707 Class F Commercial Mortgage Backed Floating Rate Notes due 2020, being together, the "Notes"

 

The Notes are admitted to trading on the regulated market of The Irish Stock Exchange Limited.

Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation together with Implementing Directive 2003/12/EC as implemented by the relevant member state requires disclosure of inside information relating to the Issuer.

Terms used and not defined herein shall have the meaning ascribed to them in the Prospectus dated 9 March 2007.

The following notice has been issued at the request of the Servicer. The Issuer has not independently verified the information contained in this notice. Accordingly, the Issuer, having been informed of the facts herein by the Servicer, hereby notifies you of the following in respect of the Chesterton Commercial (Berks) Limited Loan (the "Loan").

A non-payment Loan Event of Default has occurred under the Credit Agreement dated 11 January 2007 (Credit Agreement) in respect of the Loan originally made by Deutsche Bank AG, London Branch as original lender (Originator), to Chesterton Commercial (Berks) Limited (Borrower) because the Borrower failed to repay the loan and all other sums outstanding under the Credit Agreement on 20 April 2012 (Final Maturity Date).  The Loan forms part of the pool of loans that were transferred to the Issuer pursuant to the terms of a mortgage sale agreement dated 13 March 2007 between, amongst others, the Originator and the Issuer.

As a result of this non-payment by the Borrower, a letter of demand for such amounts was served on the Borrower (and also the guarantor of the Borrower's obligations, Chesterton Commercial Holdings Limited (Guarantor)) by fax on 2 August 2012 and by courier on 3 August 2012. As such amounts remained unpaid, fixed charge receivers were appointed by Deutsche Bank AG, London Branch as Borrower Security Trustee acting through its attorney, Hatfield Philips International Limited, on 3 August 2012. The fixed charge receivers are Julian Clarke and Matthew Nagle of Savills plc, 20 Grosvenor Hill, London, W1K 3HQ and they have been appointed in respect of the following properties owned by the Borrower or the Guarantor and charged by way of legal mortgage in favour of the Security Trustee pursuant to a deed of debenture dated 11 January 2007 granted by the Borrower (Debenture) and a third party legal charge dated 11 January 2007 granted by the Guarantor (Legal Charge) respectively:

Properties under the Debenture:

Property Name                                                                                   Title Number (s)

18-22 Packhorse Road, Gerrards Cross,                                              BM65789

Templar's Hall, St Leonards Road, Windsor                                          BK383970

Parsonage Farm, Iver, Bucks                                                                BM67215, BM62065 and    

                                                                                    BM162402

29-37 Victoria Street, Windsor                                                             BK345055

Suffolk House, Woodburn Green, Bucks                                              BM188712

Property under the Legal Charge:

Property Name                                                                                   Title Number (s)

24 Thames Street, Windsor                                                                   BK37490

 

For queries related to the above please contact: investorrelations@hatfieldphilips.com

Name and signature of agent of the Issuer responsible for making notification:

 

_____________________________              ________________________________

Signature                                                          Name

 

Date of notification:       20 August 2012

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange.

 

 

 


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