Further re Transformation Plan Update - Seite 2

Other matters

As previously announced in March this year we emerged from the transaction and execution risks associated with the administration of Mothercare UK Limited and the associated restructuring of the business in November 2019. We reported on 23 January that the administration of Mothercare UK Limited had resulted in a substantial reduction in the amounts owed and, albeit with some potential claims still outstanding, we still estimate the shortfall that the Group may have an obligation to make good as some £10 million. Discussions continue with a number of parties in relation to the potential refinancing of the Group’s debt facilities in line with the guidance given in our most recent announcement of 22 June 2020.

In the Transformation Plan Update on 22 June 2020 we also announced that we were reviewing the timetable for publication of our audited annual report and accounts for the year ended 28 March 2020. A combination of factors including the discontinued businesses and COVID-19, have complicated the audit process meaning that more time is necessary in order to finalise the audit and financial statements. As a result, the standard shareholder resolutions relating to receiving the audited financial statements and the auditor’s and directors’ reports, approving the directors’ remuneration report and the re-appointment and remuneration of the auditors will be tabled at a separate “accounts meeting” of shareholders to be held no later than 29 December 2020. Notice of the general meeting and publication of the annual report and accounts will be published in due course. The AGM will be held no later than 30 September 2020 and the notice of meeting will be circulated in due course.

Change of Registered Office

With effect from 4 August 2020 the Company’s registered office is Westside 1, London Road, Hemel Hempstead, HP3 9TD.

Ends

For further information:

Mothercare plc

[e-mail]

Andrew Cook, Chief Financial Officer

Kevin Rusling, Chief Operating Officer    

                                           
Numis Securities Ltd (Financial Adviser)

020 7260 1000

Luke Bordewich

Henry Slater

MHP Communications

07709 496 125

[e-mail]

Simon Hockridge

Tim Rowntree

Alistair de Kare-Silver