Increase of Funding Arrangements

RNS Number : 3859U

Real Good Food PLC

28 July 2020

 

28 July 2020

Real Good Food plc

("RGF" or "the Group")

Increase of Funding Arrangements

Real Good Food plc is pleased to announce that further to its trading update on 08 April 2020 in relation to the impact of COVID-19 and the Group's measures to conserve cash, the Group has increased its receivables facility with Leumi ABL Limited ('Leumi') by a further £2.0m (the "Increased Facility").  The total credit facility provided by Leumi now amounts to £10.87m.

The Increased Facility is secured against debtors in the Group's Brighter Foods business and has been provided on the same terms as the original receivables facility as announced on 23 August 2019.

Mike Holt, Non-executive Chairman said:

"We are pleased to receive the increased Facilities from Leumi, which will provide us with greater financial manoeuvrability as we navigate the current COVID-19 crisis and continue to improve the competitive position of the Group."

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR").

Enquiries :

Real Good Food plc Mike Holt, Non-Executive Chairman Maribeth Keeling, Finance Director	Tel: [phone]
finnCap Limited (Nomad and Broker) Carl Holmes / James Thompson (Corporate Finance)	Tel: [phone]
MHP Communications (Financial PR)  Reg Hoare / Katie Hunt	Tel: [phone] [e-mail]
About Real Good Food Real Good Food plc is a food manufacturing business serving several market sectors including retail (own label and private label), manufacturing and export.  The Company has two businesses, Cake Decoration (Renshaw and Rainbow Dust Colours) and Food Ingredients (Brighter Foods), with leading brands in their chosen markets.

 

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