Lenders asked to accept restructuring proposal by 6th July

A further proposal for restructuring the Four Seasons Health Care Group's debt was presented to the Group's lenders last week by Hatfield Philips International Limited (the Servicer and Special Servicer to the senior lenders of the Group). This proposal builds on the significant progress that has been made in negotiations towards reconciling the interests of the various lenders and seeks to address the remaining points of difference in a way that balances the interests of all lenders to achieve their agreement. Hatfield Philips is asking lenders to confirm agreement to the restructuring commercial terms by close of business on 6th July. If the lenders are unable to reach agreement on the restructuring proposal, the Group and Hatfield Philips International have said they will focus their efforts on commencing an orderly sale of the Group that delivers a sustainable capital structure. Contrary to speculation, none of the Group's lenders has commenced proceedings to enforce their security over the Group's assets.

Four Seasons Health Care continues to perform well in its day to day operations with occupancy at record levels. The Group believes it is in the interests of all lenders - and in the event of a sale process, in the interests of prospective purchasers - to preserve the underlying value of the operating business. It is confident that neither consensual restructuring nor a sale would have any impact on day to day operations, its customers or its trade creditors

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