New debt facility

RNS Number : 2499I

Marlowe PLC

23 November 2018

 

23 November 2018

Marlowe plc

New debt facility

Marlowe plc ("Marlowe" or the "Group"), the support services group focused on acquiring and developing companies that provide critical testing and maintenance services, has signed a new, enlarged revolving credit facility with HSBC and National Westminster Bank.

The new facility replaces the Group's existing £18 million facilities and comprises a three-year, £30 million revolving credit facility and an additional accordion facility of £15 million.

At 30 September 2018 Marlowe had net cash of £4.9 million.

The enlarged debt facility will provide further resources to support the Group's acquisition-led growth strategy.

The Group will publish its Half Year results for the period ended 30 September 2018 on 4 December 2018.

For further information:

Marlowe plc	www.marloweplc.com
Alex Dacre, Chief Executive	Tel: [phone]
Mark Adams, Group Finance Director		[e-mail]
Cenkos Securities plc (Nominated Adviser and Broker)
Nicholas Wells	Tel: [phone]
FTI Consulting
Nick Hasell	Tel: [phone]
Alex Le May

About Marlowe plc

Marlowe is an AIM-listed company formed to create sustainable shareholder value through the acquisition and development of businesses that provide critical testing & maintenance services in the UK.  It is focused on fire protection, security systems, water treatment and air quality services - which are essential to its customers' operations and invariably governed by regulation, and where customers require a single specialist outsourced provider with nationwide coverage. Our customers can be found on most high streets, in office complexes and industrial estates, and include SMEs, local authorities, facilities management providers, multi-site NHS trusts and FTSE 100 companies.

 

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