BRIEF-Ascendis Health Says Blantyre, L1 Health Invited Board To Negotiate Reorganisation Of Capital Structure

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BRIEF-Ascendis Health Says Blantyre, L1 Health Invited Board To Negotiate Reorganisation Of Capital Structure
Credit: © Reuters.

Jan 25 (Reuters) - Ascendis Health Ltd ASCJ.J :

* JSE: ASC - MARKET UPDATE

* ASCENDIS HEALTH LTD - RECEIVED A LETTER FROM BLANTYRE CAPITAL, L1 HEALTH GP SARL ON RAISING AGGREGATED EXPOSURE AS A CONSORTIUM LENDER

* ASCENDIS HEALTH - BLANTYRE, L1 HEALTH INCREASED AGGREGATED EXPOSURE AS CONSORTIUM LENDER TO OVER 1/3RD OF AGGREGATE EXPOSURE OF ALL CONSORTIUM LENDERS

* ASCENDIS HEALTH LTD - IN TERMS OF SFA, MORE THAN 66 2/3% LENDER CONSENT IS REQUIRED TO APPROVE MAJOR CORPORATE ACTIONS, INCLUDING ASSET DISPOSALS

* ASCENDIS HEALTH LTD - BLANTYRE AND L1 HEALTH HAVE INVITED BOARD TO NEGOTIATE, ON AN EXPEDITED BASIS, A REORGANISATION OF GROUP'S CAPITAL STRUCTURE

* ASCENDIS HEALTH - BLANTYRE AND L1 HEALTH STATED THAT THEY ARE OF VIEW CURRENT DIVESTMENT PLAN NOT IN BEST LONG-TERM INTERESTS OF CO, STAKEHOLDERS

* ASCENDIS HEALTH - BOARD WILL THEREFORE, IN CONSULTATION WITH BLANTYRE AND L1 HEALTH, ASSESS STRATEGIC DIRECTION OF COMPANY AND EXPLORE VARIOUS OPTIONS

* ASCENDIS HEALTH - BLANTYRE, L1 HEALTH BELIEVE RECAPITALISATION OF CO SHOULD BE PURSUED TO REDUCE LEVERAGE TO A SUSTAINABLE LEVEL

* ASCENDIS HEALTH - BLANTYRE, L1 HEALTH INVITED BOARD TO NEGOTIATE REORGANISATION OF CO'S CAPITAL STRUCTURE WITH THEIR SUPPORT

* ASCENDIS HEALTH - BLANTYRE, L1 HEALTH HAVE INDICATED A WILLINGNESS TO INVEST FURTHER INTO COMPANY TO ACHIEVE OUTCOME

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