Revised debt facility

RNS Number : 2602L
Barkby Group PLC
30 December 2022

Barkby Group PLC

("Barkby", the "Group" or the "Company")

Revised debt facility

Further to the announcement of 28 November 2022, Barkby Group PLC (AIM:BARK), announces that it has agreed to refinance its existing £5.0m debt facility to a £12m debt facility with Tarncourt Properties Ltd (the "Revised Facility Agreement"). The Revised Facility Agreement will be used to provide additional liquidity headroom to the Group. The headline terms of the Revised Facility Agreement are:


-  Increased facility from £5m to £12m;

-  Extended expiry date of 30 June 2024;

-  Interest rate of 3% plus the Bank of England base rate;

-  1% arrangement fee on the total commitment; and

-  2% exit fee on the amount drawn down.


The Revised Facility Agreement has been novated from Tarncourt Investments LLP to Tarncourt Properties Ltd. Tarncourt Investments LLP and Tarncourt Properties Ltd are both wholly owned subsidiaries of Tarncourt Group Holdings LLP, which is controlled by the Dickson Family.


Related Party Transaction


Barkby is entering into the Revised Facility Agreement with Tarncourt Properties Ltd, a company ultimately controlled by Charles Dickson and the Dickson Family. Charles Dickson is Executive Chairman of Barkby and a Director of the Company. Accordingly, entering into the Revised Facility Agreement constitutes a related party transaction under Rule 13 of the AIM Rules for Companies. The independent Directors, having consulted with the Company's nominated adviser, finnCap Ltd, consider that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.




Barkby Group PLC

Charles Dickson, Executive Chairman

Douglas Benzie, Chief Financial Officer

finnCap Ltd (Nomad and Broker)

+44 (0) 20 7220 0500

Carl Holmes/Simon Hicks (corporate finance)

Tim Redfern (ECM)


Camarco (Financial PR)

+44 (0) 20 3757 4994

Jennifer Renwick/Phoebe Pugh



Notes to editors

Barkby Group PLC is focused on commercial property development and investment, alongside its pubs business. Barkby is in the process of disposing of its Investments (comprising of Workshop Coffee, Centurian Automotive and Cambridge Sleep Sciences).


This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of UK domestic law by virtue of the European Union (withdrawal) act 2018 ("MAR").



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