Loan Repayment and New Facility
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Autins Group plc
("Autins", the "Company" or the "Group")
Loan Repayment and New Facility
Autins Group plc (AIM: AUTG), the UK and European-based manufacturer of its proprietary Neptune melt-blown material and specialist in acoustic and thermal insulation solutions, is pleased to provide an update on its financing arrangements.
Further to the Group's recent trading update, Autins confirms that it has now repaid the remaining £0.75 million balance of its existing loan facility with Maven Capital Partners that was originally entered into in 2020. The Group has also entered into a new £1.0 million 4 year term loan facility, also with Maven via MEIF II.
The new facility, together with the expected repayment of the Group's final CBILS obligation in July 2026, provides the Group with significant additional working capital funding flexibility to support its forecast revenue growth over the coming years.
We look forward to continue updating on our progress with our full year announcement.
Andy Bloomer, Chief Executive Officer of Autins, commented:
"This is an important step forward for Autins. The repayment of the previous loan facility, combined with the new funding in place, materially increases our balance sheet flexibility.
Our priorities are to continue investing in the business, supporting our customers, and delivering sustainable, profitable growth. The new financing arrangements will very much support us in achieving these objectives."
For further information please contact:
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Autins Group plc Andy Bloomer, Chief Executive Adam Attwood, Chairman Des Dimitrov, CFO
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Via Singer Capital Markets |
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Singer Capital Markets (Nominated Adviser and Broker) Peter Steel Sara Hale James Todd Anastassiya Eley
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Tel: 020 7496 3000 |
About Autins
Autins is a UK and continental Europe based industrial materials technology business that specialises in the design, manufacture, and supply of acoustic and thermal products. Its key markets are automotive, flooring, office furniture and commercial vehicles where it supplies products and services to more than 160 customer locations across Europe.
Autins is the UK and European manufacturer of the proprietary Neptune melt-blown material and specialises in the design, manufacture, and supply of acoustic and thermal insulation solutions.
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