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    MRW   GB0006043169

WM MORRISON SUPERMARKETS

(MRW)
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Wm Morrison Supermarkets PLC Announces Tender Offer Early Results

11/16/2021 | 10:19am EST

Reference is made (x) to the Market Bidco Limited (the "Offeror") announcement dated 21 October 2021 relating to the (a) invitations by the Offeror to the Noteholders of each Series of Notes referred to below issued by Wm Morrison Supermarkets PLC (the "Company") and guaranteed by Safeway Limited to tender the Notes for purchase by the Offeror or, if directed by the Offeror, the Company or any of its affiliates, for cash at the relevant Purchase Price plus the Early Tender Premium or Early Consent Premium, as applicable, and (b) solicitations by the Offeror, as agent of the Company, for the approval by the Noteholders, by extraordinary resolution at meetings convened by the Company, of (i) the Change of Control Waiver and (ii) certain modifications to the Conditions of each Series of Notes to grant a new Put Right to the Noteholders of such Series of Notes in connection with the Acquisition, in each case subject to the Transaction Conditions being satisfied or waived by the Offeror, and (y) to the Offeror's announcement dated 27 October 2021 relating to (a) increases by the Offeror of the Early Tender Premium and (b) extensions by the Offeror of the timetable for the Offers and Proposals in relation to the Notes (collectively, the "Announcements"). Capitalised terms used in this announcement but not otherwise defined have the meanings given to them in the tender offer and consent solicitation memorandum, dated 21 October 2021. The Offeror announced the early results for its previously announced Offers and Proposals in relation to the Notes set forth below as of the previously announced Early Deadline of on 10 November 2021. Based on these results, the Company expects the relevant Extraordinary Resolution to be approved at each first Meeting of the Noteholders of the 2026 Notes, 2029 Notes and 2031 Notes. The aggregate votes cast in favour of the relevant Extraordinary Resolution in respect of the 2023 Notes would also be sufficient to approve such Extraordinary Resolution if a second Meeting of the Noteholders of the 2023 Notes (the "Second Meeting") was called.


ę S&P Capital IQ 2021
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Financials
Sales 2021 17 598 M 23 719 M 23 719 M
Net income 2021 96,0 M 129 M 129 M
Net Debt 2021 3 191 M 4 301 M 4 301 M
P/E ratio 2021 45,4x
Yield 2021 3,98%
Capitalization 6 912 M 9 446 M 9 315 M
EV / Sales 2020 0,39x
EV / Sales 2021 0,43x
Nbr of Employees 118 000
Free-Float -
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Managers and Directors
David T. Potts Chief Executive Officer & Director
Michael Gleeson Chief Financial Officer & Director
Andrew Thomas Higginson Independent Non-Executive Chairman
Trevor John Strain Chief Operating Officer & Director
Rooney Anand Senior Independent Non-Executive Director