Intention to refinance debt facilities
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.
Barkby Group PLC
("Barkby", or the "Company")
Intention to refinance debt facilities
Barkby (AIM: BARK) announces its intention to refinance its existing debt facilities, including the £12 million debt facility, (the "Facility") provided by Tarncourt Properties Limited, ("Tarncourt") a vehicle controlled by the Executive Chairman of the Company, Charles Dickson and his family. The Facility was revised on 30 December 2022 and interest is paid at a rate of 3.0% over the Bank of England's prevailing base rate, with an expiry date of 30 June 2024.
Following the announcement of 31 October 2023 of the Company's joint venture with Meadow Partners LLP, ("Meadow Partners") the Board intends to simplify the Company's capital structure and is considering a new, sterling denominated, private debt offering, (the "Offering") which would be issued on market terms. Certain existing shareholders are likely to participate in the Offering.
As at 30 November 2023, net cash available to the Company, including undrawn facilities, remains at £2.0 million.
A further announcement will be made as appropriate.
- Ends -
Enquiries:
|
Barkby Group PLC Charles Dickson, Executive Chairman c/o Montfort
|
|
|
Montfort Olly Scott Georgia Colkin
|
+44 (0)78 1234 5205 +44 (0)75 4284 6844 |
|
Cavendish Capital Markets Limited (Nomad and Broker) Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance) Tim Redfern (ECM)
|
+44 (0)20 7220 0500 |
|
Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker) Mark Young Jonathan Wilkes-Green Catriona Neville |
+44 (0)20 7710 7600 |
About Barkby
Barkby is a roadside real estate business focused on building and scaling a high-quality portfolio of modern assets.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
COMPANIES COVERED:
Latest directors dealings
- 29 minutes ago RIT Capital Partners
- 35 minutes ago Moneysupermarket.com Group
- 1 hour ago Redrow
- 1 hour ago Dalata Hotel Group (CDI)
- 1 hour ago InterContinental Hotels Group