TP Group PLC Finance Facility (8980E)
03 Marzo 2020 - 4:59PM
UK Regulatory
TIDMTPG
RNS Number : 8980E
TP Group PLC
03 March 2020
3 March 2020
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain .
TP Group plc
("TP Group", "the "Company" or the "Group")
Finance Facility
TP Group (AIM: TPG), the providers of mission-critical solutions
for a more secure world, announces that it has entered into a new
GBP7.0 million revolving loan facility (the "Facility Agreement")
with HSBC UK Bank plc. This facility has a term of three years and
carries an option to increase the headroom to GBP12.0 million
subject to certain conditions.
Under the terms of the Facility Agreement, entered into on 3
March 2020, the Group will pay interest at a rate of between 1.75%
and 2.25% per cent. over LIBOR on the amount drawn down, depending
on the Group's total leveraged position.
Derren Stroud, Chief Financial Officer of TP Group,
commented:
"This is a significant step in our plan to continue growing the
Company. Building upon recent successful investments we have set
our aims increasingly high, and this facility will be used to
pursue a series of acquisition, partnership and organic investment
paths.
"The establishment of this facility reflects the confidence that
our lending partner shares in the ongoing success of the business.
It allows us to act quickly and flexibly, and with this support we
look forward to capitalising on a number of opportunities
anticipated in 2020."
For further information, please contact:
TP Group plc Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos Securities plc Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum
Davidson
www.cenkos.com
Vigo Communications Tel: 020 7390 0230
Jeremy Garcia / Fiona Henson / Charlie
Neish
www.vigocomms.com
Notes to Editors
TP Group delivers complex equipment, software and services for
mission, business and safety critical applications in defence,
space, intelligence & security and energy sectors. With more
than 400 people in 6 European countries, it serves global customers
through long-term contracts. The Group's shares have been traded on
AIM since July 2001.
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London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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