Correction to Interim Managem

RNS Number : 3546Z

Northgate PLC

21 September 2009

 



21 September 2009

NORTHGATE PLC

Correction to Interim Management Statement of 16 September 2009

Northgate plc  (the 'Company'), the UK and Spain's leading specialist in light commercial vehicle hire, issues a correction to the Company's Interim Management Statement issued on 16 September 2009.

The unaudited net debt figure as at 31 August 2009 was reduced by £173m since 30 April 2009, to £713m, not £205m to £681m as incorrectly stated in the announcement. Using 30 April 2009 exchange rates the reduction would have been £165m.

The discrepancy is due to an internal administrative error and does not affect the Company's ability to meet its redemption obligations, banking covenants, forecast of year end net debt position or its current trading position.

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For further information, please contact:

Northgate plc	01325 467558
Steve Smith, Chief Executive
Bob Contreras, Finance Director Paul Tallentire, Deputy Chief Executive

Hogarth Partnership Limited	020 7357 9477
Andrew Jaques
Barnaby Fry
Anthony Arthur

Notes to Editors:

Northgate plc rents light commercial vehicles and sells a range of fleet products to businesses via a network of hire companies in the UK, Republic of Ireland and Spain. Its NORFLEX® product gives businesses access to a flexible method to acquire as many commercial vehicles as they need, without tying up capital or entering a fixed term contract.

Further information regarding Northgate plc can be found on the Company's website:

http://www.northgateplc.com

 

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