New Banking Facilities

RNS Number : 1080W

Rotala PLC

04 November 2014

 



4 November 2014

Rotala plc

("Rotala" or "the Company")

New Banking Facilities

Rotala plc is pleased to announce that it has entered into a revised suite of banking facilities with its principal bankers, RBS/Natwest (the "New Facilities"). The New Facilities, totalling £18.0m, replace the Company's existing facilities of approximately £11.0 million; the New Facilities comprise a Term Loan Facility of £7.0m, a Revolving Facility of £9.0m and an Overdraft Facility of £2.0m, with a maturity date for all Facilities of 30 April 2018.

It is anticipated that net debt at the end of the current financial year will be approximately £17.0m. Taking into account the New Facilities and parallel asset finance facilities, the Company will have approximately £10 million of headroom at the end of this financial year, which will provide the capacity to finance potential acquisitions and also enable the Company to fund share buy backs, should the opportunity arise.

For further information please contact:

Rotala Plc
John Gunn, Chairman	020 7602 7500
Simon Dunn, Chief Executive	07825 808 525
Kim Taylor, Group Finance Director	07825 808 529
Numis Securities Limited	020 7260 1000
David Poutney (Corporate Broker); Stuart Skinner/Richard Thomas (Nominated Adviser)

 

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