Credit Facility Expansion, Trading Update Notice

RNS Number : 9395N

Water Intelligence PLC

04 February 2021

 

Water Intelligence plc

("Water Intelligence" or the "Company")

Expansion of Credit Facility

Notice of Year-end Trading Update

Water Intelligence, a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water infrastructure, is pleased to announce that it has expanded its credit facilities ("Credit Facilities") by $3.2 million in order to further accelerate growth for 2021.

During 4Q 2020, the Company announced that it had refinanced and expanded its Credit Facilities both to reduce the cost of existing debt over the next five years and to create new financing capacity of $8 million to fuel growth.  During December, Water Intelligence put capital to work by announcing three accretive franchise reacquisitions to accelerate growth for 2021 and beyond.  

Today's additional expansion of the Credit Facilities, by a further $3.2 million in term debt, takes advantage of the current low interest rate environment and is made possible by the Company's consistently strong financial performance.

Water Intelligence plans to provide its full-year 2020 Trading Update next week.

Dr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented:   "We are excited to deliver for 2021 and to surpass the high bar that we typically set for ourselves.  Today's non-dilutive financing delivers additional value to our shareholders."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014

Enquiries:

Water Intelligence plc
Patrick DeSouza (Executive Chairman) Adrian Hargrave (VP, Corporate Development)	Tel: [phone] Tel: [phone]
Dowgate Capital Limited (Financial Adviser and Joint Broker) Stephen Norcross	Tel: [phone]
WH Ireland Limited (Nomad and Joint Broker)
Adrian Hadden James Sinclair-Ford Matthew Chan	Tel: [phone]

 

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