Update on debt refinancing

Roadside Real Estate PLC

28 March 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Roadside Real Estate PLC

("Roadside" or the "Company")

Update on debt refinancing

Delay in publication of its audited accounts for the period ended 30 September 2023

Roadside, (AIM: ROAD) the roadside real estate business, provides an update on its intention to refinance its existing debt facilities and an update on the timings of the publication of its accounts for the period ended 30 September 2023.

The Company is in the closing stages of completing the issue of £10 million principal amount of secured loan notes (the "Loan Notes"). The Loan Notes will attract a coupon of 14% for a period of 24 months and will be secured against the Company's assets and undertaking, including its shareholding in Cambridge Sleep Sciences ("CSS") as well as the assets and undertaking of CSS. The Company will also agree to pay a bonus to subscribers of the Loan Notes which will allow them to participate in an exit option of the Company's CSS shareholding under preferential terms. A further announcement confirming completion of the refinancing is expected shortly, where full terms of the refinancing will be included.

Delay of results

The Company has been working with its auditors to publish its accounts for the period ended 30 September 2023 by 7.00 am on 2 April 2024. While the audit is substantially complete, resourcing capacity shortages and senior personnel compassionate leave mean that the Company will be unable to publish its accounts by 7.00 am on 2 April 2024. Accordingly, trading in the Company's shares will be suspended on AIM from 7.30 am on 2 April 2024.

The Company expects to publish its results during the week commencing 8 April 2024, after which the suspension from trading will be lifted.

Further announcements will be made as appropriate.

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Enquiries:

Roadside Real Estate PLC Charles Dickson, Executive Chairman c/o Montfort
Montfort Olly Scott Georgia Colkin	[phone] [phone]
Cavendish Capital Markets Limited (Nomad and Joint Corporate Broker) Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance) Tim Redfern (ECM)	[phone]
Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker) Mark Young Jonathan Wilkes-Green Catriona Neville	[phone]

About Roadside

Roadside is a real estate business focused on building and scaling a high-quality portfolio of modern roadside retail assets, including modern EV charging infrastructure.

 

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