Increase in credit facility limit to £30 million

Literacy Capital PLC

27 November 2023

 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

27 November 2023

Literacy Capital plc ("Literacy", "BOOK" or the "Company")

Increase in credit facility limit to £30 million

The Company announces that it has agreed an increase to the limit of its Revolving Credit Facility ("RCF") from £25 million to £30 million, with its existing lender Investec Bank plc. All other terms remain unchanged.

Drawings under the RCF as of today amount to just under £7 million. The Company's Borrowing Policy permits "indebtedness of up to a maximum of 20 per cent of its Net Asset Value". However, gearing is expected to remain conservative throughout the term of this facility and leverage would not be expected to exceed 10% of net assets.

-ENDS-

For further information, please contact:

Literacy Capital plc / Book Asset Management LLP

Tom Vernon / Richard Pindar

[phone]

MHP Group

Reg Hoare / Ollie Hoare / Matthew Taylor

[e-mail]

[phone]

Singer Capital Markets Securities Limited

Robert Peel

[phone]

LEI: 2549006P3DFN5HLFGR54

A copy of this announcement will be available on the Company's website at https://www.literacycapital.com/.

This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk.  Past performance is no guarantee of future returns.  Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.  The value of investments may fluctuate.  Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

 

END