Sutton Harbour Group PLC Revised Bank Facility (8364N)
26 Maggio 2020 - 08:01AM
UK Regulatory
TIDMSUH
RNS Number : 8364N
Sutton Harbour Group PLC
26 May 2020
26 May 2020
Sutton Harbour Group plc
("Sutton Harbour" or the "Company")
Revised Bank Facility
The Company reports that it has successfully negotiated and
achieved completion of a revised committed bank facility with
incumbent bankers, National Westminster Bank plc. The revised
facility allows for the revolving credit facility to be extended by
GBP2m for twelve months (with the possibility of a further twelve
month extension), on terms no less favourable than the pre-existing
facility, to provide additional headroom should it be needed as a
result of disrupted trading caused by the Covid-19 government
restrictions. The total bank facility is thereby increased to
GBP27m from GBP25m as a result of this revision.
Further to the announcement made on 27 March 2020, the Company
continues to remain in close contact with its tenants, customers
and key stakeholders and is keeping a close watch on changes to
government restrictions to allow preparations for the re-opening of
facilities, in accordance with official guidance, to be made.
Following the government guidance, the Company is pleased that
berth-holders are now accessing their boats berthed in the marinas
and that the re-awakening of the facilities is proceeding with
appropriate care.
Enquiries
Sutton Harbour Group +44 (0) 1752 204186 Philip Beinhaker, Executive Chairman
plc Corey Beinhaker, Chief Executive Officer
Natasha Gadsdon, Finance Director
Arden Partners (Nominated +44 (0)20 7614 5917 Paul Shackleton, Ben Cryer
Advisor)
Notes to Editors
Sutton Harbour Group plc (SUH) is an AIM listed company
specialising in marine operations, waterfront regeneration and
destination creation in Plymouth and South West England.
The Company operates Sutton Harbour Marina, King Point Marina
and Plymouth Fisheries. Operational activities include mixed-use
lettings, car parking and support services to harbour users,
property management and regeneration and asset enhancement.
Sutton Harbour Group plc is committed to being the leading
marine and waterfront regeneration specialist in Southern England,
and to positioning Sutton Harbour in Plymouth as a destination of
national interest.
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END
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