Update on Revolving Credit Facility

Kromek Group PLC

06 September 2023

 

6 September 2023

Kromek Group plc

("Kromek" or the "Group")

Update on Revolving Credit Facility

Kromek (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, provides the following update on the revolving credit facility ("RCF") with HSBC.

In the full year results statement issued on 24 July 2023, Kromek stated that the repayment date of its  £5.0m RCF with HSBC was extended by the bank to 31 August 2023. The Group is pleased to announce that the repayment date has been extended to 30 September 2023 as the Group finalises  terms to refinance the borrowing facility.

Kromek will make a further announcement in due course.

For further information, please contact: 

Kromek Group plc
Arnab Basu, CEO  Paul Farquhar, CFO	[phone]
finnCap Ltd (Nominated Adviser and Joint Broker)
Geoff Nash/Seamus Fricker/George Dollemore - Corporate Finance  Tim Redfern/Charlotte Sutcliffe - ECM	[phone]
Cenkos Securities plc (Joint Broker)
Giles Balleny - Corporate Finance Michael Johnson/Tamar Cranford-Smith - Sales	[phone]
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble	[phone]

Kromek Group plc 

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.  

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.  

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel and urban environments from the threat of 'dirty bombs'.  

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.  

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.  

 

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