McCarthy & Stone commences full review of strategic options and appoints financial adviser
26 November 2012
26 November 2012: McCarthy & Stone (‘McCarthy & Stone’ or ‘The Company’), the largest developer of privately owned retirement property in the UK, announced today that it has formally commenced a strategic review process and has appointed Moelis & Company (‘Moelis’) as financial adviser to the Board to assist with this review.
Alan Bowkett, Chairman of McCarthy & Stone said:
"Following a pleasing set of results in the year to August 2012, we have decided under the leadership of our new Chief Executive, Mark Elliott, to launch a comprehensive review in order to evaluate our options and take advantage of the exciting growth opportunities that lie ahead."
Moelis will undertake a review of a broad range of strategic and financing options available to McCarthy & Stone, as it looks to take advantage of the market opportunities ahead and achieve its strategic growth objectives in an accelerated timeframe.
As a key part of its work, Moelis will consult directly with McCarthy & Stone’s major stakeholders over the coming weeks. Any stakeholder that has recently made an investment in McCarthy & Stone, but has not yet become a shareholder or lender of record, is invited to contact the Company or Moelis directly.
Moelis is expected to present its strategic review to the Board by the end of January.
-Ends-
Equity/debt holders
Moelis & Company
Stephen Aulsebrook
Stephen.aulsebrook@moelis.com
020 7634 3633
Silvia Shiliashka
Silvia.Shiliashka@moelis.com
020 7634 3652
Media
Brunswick Group
Kate Holgate / Azadeh Varzi
mccarthy&stone@brunswickgroup.com
+44 (0) 207 404 5959