Refinancing

RNS Number : 9173I

Carclo plc

31 March 2015

 





31 March 2015

Carclo plc ("the group")

Refinancing

The board is pleased to announce that the group has agreed new 5 year facilities with its lending bank HSBC Bank Plc ("HSBC"). This £30.0 million multi-currency revolving facility is on broadly comparable terms to the group's previous banking facilities, which were with HSBC and Lloyds Bank Plc, with similar covenant terms and slightly more beneficial pricing. The group has also agreed a £10.0 million overdraft facility with HSBC.

Enquiries:
Carclo plc	01924 268040
Chris Malley, Chief Executive
Robert Brooksbank, Finance Director
Peel Hunt LLP	0207 418 8900
Justin Jones
Jock Maxwell Macdonald
Mike Bell
N+1 Singer	0207 496 3000
Shaun Dobson
Richard Lindley
Weber Shandwick Financial	020 7067 0700
Nick Oborne
Tom Jenkins

Notes to editors

Carclo plc is a public company whose shares are quoted on the London Stock Exchange.

Carclo's strategy is to develop and expand its key manufacturing assets where there remain significant further opportunities to drive value. To enhance profit margins the group has been investing in new technologies.

Approximately three fifths of revenues are currently derived from the supply of fine tolerance, injection moulded plastic components, mainly for medical products. The balance of revenue is derived mainly from the design and supply of specialised injection moulded LED based lighting systems to the low volume premium automotive industry.

 

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