SCHE -3x Short China

TIDMSCHE

RNS Number : 2885O

Southern Cross Healthcare Grp PLC

15 September 2011

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.

-Ends-

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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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