New Banking Facility & Notice of Results

RNS Number : 4227I

Pebble Beach Systems Group PLC

14 April 2022

 

14 April 2022

Pebble Beach Systems Group plc

("Pebble" or the "Group")

New Banking Facility & Notice of Full Year Results

New Term Loan Banking Facility

Pebble has a good relationship and communication with its bank Santander and is pleased to announce that it has secured a new term loan facility, refinancing the current revolving credit facility. The new £7.15 million term loan facility extends to 30 September 2024 with revised banking covenants and a repayment schedule consistent with previous years allowing us to make ongoing investment in new technology solutions.

Pebble has systematically reduced its bank debt from £11.5 million at 31 December 2017 to £7.55 million at the end of 2021 and to £7.15 million as of today.  The reduction in bank debt has been made from operating cash flows at a rate of c.£1m per annum.

Notice of Full Year Results

Pebble expects to announce its full year results for the year ended 31 December 2021, on Thursday 5 May 2022 and for the results to be consistent with the trading update released on 25 January 2022.

For further information please contact:

Peter Mayhead - CEO David Dewhurst - CFO	[phone]
finnCap Ltd (Nominated Adviser and Broker ) Graham Cooke / Krishan Raval - Debt Advisory Marc Milmo / Teddy Whiley - Corporate Finance Tim Redfern / Sunila de Silva - ECM	[phone]

The Company is listed on the LSE AIM market (PEB.L).  More information can be found at www.pebbleplc.com .

 

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