Temporary Waiver & Timing of Annual Report

RNS Number : 0029R

Distribution Finance Cap. Hldgs PLC

24 June 2020

 

25 June 2020

Distribution Finance Capital Holdings plc
("DFC", "DF Capital" or the "Company" or together with its subsidiaries the "DFC Group")

Temporary waiver granted by Lenders through to end of Q3 2020, Timing of Annual Report and Financial Statements for FY 2019

Further to its previous announcements concerning its ongoing discussions with its senior and senior mezzanine facility lenders (the "Lenders"), the Company is today pleased to announce that, following constructive and supportive discussions, its Lenders have agreed a further extension of the existing temporary waiver until the end of Q3 2020, with terms in line with those previously agreed.

The Lenders remain supportive of the Company's on-going banking licence application and its efforts to negotiate alternative wholesale financing, in light of the reassessment of their own credit risk appetite due to COVID-19. The Company expects the Lenders to further review their position in mid-August, by which time the Company will have greater clarity on its banking licence application; its application to participate in the British Business Bank's Enable Funding scheme; and the impact of the gradual easing of Covid-19 related restrictions on its customers.

The Company will share more information on its current trading performance and the impact of COVID-19 on 26 June 2020 when it publishes its Annual Report and Financial Statements for the year ended 31 December 2019.

Enquiries:

Distribution Finance Capital Holdings plc Carl D'Ammassa - Chief Executive Officer [phone] Kam Bansil - Head of Investor Relations [phone] http://www.dfcapital-investors.com Macquarie Capital (Europe) Limited (NOMAD and broker) Alex Reynolds / Jonny Allison [phone] Blue Pool Communications (Financial PR) Nick Lord [phone]

 

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