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Peabody Capital PLC/Peabody Capital No.2 PLC
Peabody Trust (“Peabody”) and Family Mosaic (“FMH”) have today completed the merger previously announced on 7 December 2016. The closing of the merger follows consultation, approvals consents and successful negotiations with lenders.
The new Group, called Peabody, will provide 55,000 homes to 111,000 residents across London and the South East. The combined entity will have an annual turnover of £0.7bn and total balance sheet assets of £6.0bn.
Brendan Sarsfield is the Chief Executive of the new Group, Lord Kerslake is the Chair and Ian Peters is Vice Chair.
Peabody Capital PLC (issuer of £200 million in debt securities at 5.25% dated 2043) and Peabody Capital No.2 PLC (issuer of £350 million in debt securities at 4.625% dated 2053) will continue to be wholly owned subsidiaries of Peabody Trust, within the new Group.
Brendan Sarsfield and Ian Peters have been appointed to the boards of both PLCs with effect from 30 June 2017. It is confirmed that there are no matters to disclose pursuant to Listing Rule 9.6.13.
Also in relation to the merger, Malcolm Levi and Stephen Howlett have retired from the boards of both PLCs with effect from 30 June 2017. Peabody thanks them both for their contributions and wishes them well for the future.
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