REG-Yell Group plc UPDATE ON COMPREHENSIVE REFINANCING PROPOSALS

Released: 02/11/2009

com:20091102:RnsB7479B
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RNS Number : 7479B  
  
Yell Group plc  
  
02 November 2009  
  
2 November 2009  
  
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE  
  
UNITED STATES  
  
YELL GROUP PLC  
  
UPDATE ON COMPREHENSIVE REFINANCING PROPOSALS  
  
Yell is pleased to announce that it has received acceptances in excess of the 
95% threshold required as part of its refinancing proposals.  
  
Yell now intends to continue with the second, inter-dependent part of its 
comprehensive refinancing proposals which, as announced previously, is the 
intention to raise at least £500 million of equity.  The company plans to 
approach its major shareholders and announce details of the equity raise as soon 
as practicable.  
  
John Davis, Chief Financial Officer of Yell, said: "We are delighted that our 
proposals have been so overwhelmingly approved.  We have over 1,000 lenders' 
commitments, and collecting their acceptances has been a huge logistical 
exercise. We are naturally very grateful to all our lenders for what is 
virtually unanimous support and look forward to announcing details of the 
planned equity raise in the near future."  
  
Enquiries:   
  
Yell - Investors                                                      Yell - 
Media  
  
Rob Hall                                                                 Jon 
Salmon  
  
Tel: +44 (0)118 950 6838   Tel: +44 (0) 118 950 6656  
  
Mobile: +44 (0)7793 957 848                               Mobile: +44 (0)7801 
977 340  
  
Citigate Dewe Rogerson  
  
Anthony Carlisle  
  
Tel +22 (0) 20 7638 9571  
  
Mobile: +44 (0) 7973 611 888    
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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