New Asset-based lending facil

RNS Number : 5142X

Parity Group PLC

07 December 2010

 



7 December 2010

Parity Group plc

New Asset-based lending facility

Parity Group plc announces today that it has entered into an agreement with PNC Financial Services UK LTD, the UK arm of PNC Business Credit, for the provision of asset-based lending facilities for the next three years, at the level requested by the Board. The new facilities deliver increased funding of up to £3m. PNC Business Credit is the asset-based lending division of U.S.-headquartered PNC Bank, National Association, a member of The PNC Financial Services Group, Inc.

CEO, Paul Davies, said today "This is another important step in our stated strategy to return Parity to profitability and to improve shareholder value."

Enquiries:
Parity Group PLC Philip Swinstead OBE, Chairman Paul Davies, CEO	0845 873 6942
MHP Communications John Olsen/Ian Payne	020 3128 8100
Arbuthnot Securities Hugh Field/Ed Gay	020 7012 2000

 

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