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Group secures plan meetings amidst restructuring plan

The Great Annual Savings Company Ltd (“GAS”) has been granted permission to hold creditor meetings with 15 classes of creditors as part of the company’s proposed restructuring plan under Part 26A of the Companies Act 2006 (the “Restructuring Plan”).

The purpose of these virtual meetings is to permit all creditors affected by the Restructuring Plan to consider and, if thought fit, approve the Restructuring Plan.

This means that all Plan Creditors will have the opportunity to participate in, and vote on, the Restructuring Plan.

How to access relevant information and participate

A formal notice of the plan meetings and guidance on the voting and attendance processes is being circulated to all creditors and customers for whom GAS holds contact details, a copy of which is also available for download at the Plan Website together with the final form Explanatory Statement providing further information to Plan Creditors. 

When the meetings will take place

Virtual plan meetings will take place on 13th and 14th March 2023.  Prior to this, the Company together with its advisors is holding a webinar at 11 am on 2nd March 2023, to which all Plan Creditors are invited. A link to the webinar is included in the formal notice of the plan meetings.

The webinar will give background to the restructuring plan, explain the voting process and provide an opportunity for questions to be answered.  A recording of this webinar will be uploaded to the Plan Website as soon as practicable following its completion.

Timetable of dates

The relevant future dates of the Restructuring Plan are outlined below.

Information Webinar2nd March 2023
Plan Meetings13th March 2023
14th March 2023
Sanction Hearing at the High Court in London (Rolls Building)17th March 2023

Access to the plan website

The Restructuring Plan documents are also available for view and download at the Plan Website which can be accessed using the link below:

The case code and password can be obtained via email request at  [email protected].

Plan Creditors are able to register on the Plan Website to receive notifications when any new document is uploaded to the plan website.

If you have any problems accessing the site, you should contact [email protected].

Further queries regarding the Restructuring Plan or the contents of this communication should be sent to any of the below.

Restructuring Advisors: [email protected]

Company: [email protected]

Shoosmiths LLP: [email protected]; [email protected]

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