THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE, INCLUDING AS TO ANY TAX CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER.
REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL 2014 (MARKET ABUSE REGULATION) REQUIRES DISCLOSURE BY OR ON BEHALF OF THE ISSUER OF ANY INSIDE INFORMATION CONCERNING THE ISSUER.
IMPORTANT NOTICE TO THE HOLDERS OF THE
€24,000,000 Class B1a Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640503, Rule 144A ISIN: US84359UAG94, Reg S Common Code: 023551608, Reg S ISIN: XS0235516084)
£11,000,000 Class B1c Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640538, Rule 144A ISIN: US84359UAJ34, Reg S Common Code: 023551624, Reg S ISIN: XS0235516241)
(the "Class B Notes")
€9,000,000 Class C1a Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640554, Rule 144A ISIN: US84359UAK07, Reg S Common Code: 023551632, Reg S ISIN: XS0235516324)
£12,000,000 Class C1c Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640589, Rule 144A ISIN: US84359UAM62, Reg S Common Code: 023551675, Reg S ISIN: XS0235516753)
(the "Class C Notes")
€10,300,000 Class D1a Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640619, Rule 144A ISIN: US84359UAN46, Reg S Common Code: 023551683, Reg S ISIN: XS0235516837)
£3,000,000 Class D1c Mortgage Backed Floating Rate Notes due 2043
(Rule 144A Common Code: 023640821, Rule 144A ISIN: US84359UAQ76, Reg S Common Code: 023551721, Reg S ISIN: XS0235517215)
(the "Class D Notes")
£4,000,000 Class E1c Mortgage Backed Floating Rate Notes due 2043
(Reg S Common Code: 023551772, Reg S ISIN: XS0235517728)
(the "Class E Notes")
£4,000,000 Class FTc Deferrable Interest Notes due 2043
(Reg S Common Code: 023551829, Reg S ISIN: XS0235518296)
(the "Class FTc Notes")
Southern Pacific Securities 05-3 PLC
on or about 28 November 2005
The Class B Notes, Class C Notes, Class D Notes, Class E Notes and Class FTc Notes are together referred to as the "Notes".
Capitalised terms used but not otherwise defined in this notice shall have the meanings ascribed to them in (a) the master definitions schedule entered into between, amongst others, the Issuer and Capita Trust Company Limited (the "Trustee") on 28 November 2005 (the "Master Definitions Schedule") as amended/and or restated from time to time and (b) the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and its Affiliated Debtors dated 5 December 2011 [ECF 22973] (the "Plan"). If there is any inconsistency between the Master Definitions Schedule and the Plan, the Master Definitions Schedule shall prevail.
Further to the notices to Noteholders dated 8 May 2013, 9 December 2013, 27 November 2014, 29 April 2015, 23 November 2015, 23 August 2016 and 14 November 2016 (the "Notices"), the Issuer wishes to inform Noteholders that it has now received USD 1,200.98 from Lehman Brothers Holdings Inc. representing a distribution of 0.00805586 per cent. of the USD 149,082.72 Allowed Claim in respect of the Issuer's Class 9A Claim. The total distribution amount was USD 1,165.98 reflecting the deduction of a wire transaction fee and banking charges totalling USD 35.00.
This amount along with the amounts received in the Notices total USD 92,176.96 (prior to the deductions of wire transfer fees and banking charges mentioned above). In accordance with Condition 2(g) of the Notes, such amounts, and all other amounts received by the Issuer from the Debtors, have formed part of the Available Revenue Fund to be applied in accordance with the Priority of Payments on the basis that no replacement interest rate cap agreement has been entered into by the Issuer.
The Issuer understands that it was also entitled to receive a distribution of $288.87 on 6 April 2017 from Lehman Brothers Special Financing Inc. ("LBSF"). However, the Issuer has been informed that from the 12th distribution in April 2017, the Plan Administrator established a minimum threshold of $500.00 for a distribution to be released, and therefore, any distribution that is less than $500.00 is to be held and released at the time when either (a) the combined total of the held distribution and a future distribution exceeds $500.00 or (b) the Plan Administrator decides to release all withheld payments.
It is anticipated that the $288.87 distribution payable by LBSF and withheld in the 12th distribution on 6 April 2017 will be combined with, and released in, the 13th distribution (provided the aggregate distribution amount exceeds $500.00).
Queries may be addressed to the Issuer as follows:
Southern Pacific Securities 05-3 PLC
40 Dukes Place London
Attention: Aimee Bibizadeh
Telephone: +44 (0) 20 7397 6326
Fax: +44 (0) 20 3170 0246
e-mail: [email protected]
Ref: Southern Pacific Securities 05-3 PLC
This Notice is given by the Issuer.
14 June 2017
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
This information is provided by RNS