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Gateley (Holdings) (GTLY)

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Tuesday 19 April, 2022

Gateley (Holdings)

New Revolving Credit Facility agreed for £30m

RNS Number : 5790I
Gateley (Holdings) PLC
19 April 2022
 

19 April 2022

GATELEY (HOLDINGS) PLC

("Gateley" or the "Group")

AIM: GTLY

 

New Revolving Credit Facility agreed for £30m

 

Gateley, the legal and professional services group, is pleased to announce that it has agreed a new revolving credit facility with Bank of Scotland and HSBC UK.

The facility provides total committed funding of £30m until April 2025, split equally between Bank of Scotland and HSBC UK. It replaces the Group's existing £8m overdraft facilities with Bank of Scotland and HSBC UK with the dual bank club providing increased flexibility to the Group to support future growth and expansion via acquisition.  Interest is payable on the loan at a margin of 1.95% above the SONIA reference rate.

 

Rod Waldie, Gateley Chief Executive Officer, said:

 

"We are delighted to have agreed this new £30m facility with our long-term supportive banking partners of Bank of Scotland and HSBC UK. The facility will provide us with additional headroom to continue with our stated strategy to grow organically and through acquisitions.  We continue to position ourselves to invest in and grow our Platforms to provide an increasing breadth of services to our clients.

 

The aggregation of complementary legal and consultancy services on our four market-facing Platforms of Corporate, Business Services, People and Property continues to differentiate Gateley, strengthen our appeal to clients and enhance our resilience."

 

Enquiries:

 

Gateley (Holdings) Plc

 

Neil Smith, Finance Director

Tel: +44 (0) 121 234 0196

Nick Smith, Acquisitions Director and Head of Investor Relations

Tel: +44 (0) 20 7653 1665

Cara Zachariou, Head of Corporate Communications

Tel: +44 (0) 121 234 0074 Mob: +44 (0) 7703 684 946

 

 

Liberum - Nominated Adviser and Broker

Richard Lindley/Ben Cryer/Cara Murphy

 

Tel: +44 (0) 20 3100 2000

 

 

Belvedere Communications Limited - Financial PR

 

Cat Valentine

Mob: +44 (0) 7715 769 078

Keeley Clarke

Mob: +44 (0) 7967 816 525

Llew Angus

Mob: +44 (0) 7407 023 147

 

[email protected]

 

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