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Regenersis PLC (RGS)

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Thursday 12 December, 2013

Regenersis PLC

Increase in Total Banking Facilities

RNS Number : 3309V
Regenersis PLC
12 December 2013

12 December 2013

Regenersis Plc

(AIM: "RGS")


Increase in Total Banking Facilities


Regenersis Plc ("Regenersis" the "Company" or the "Group"), a strategic outsourcing partner to many of the world's leading consumer technology companies, is pleased to announce it has increased its total banking facilities with HSBC from £23 million to £39 million.


The key changes in the total facilities are as follows:


Revolving Credit facility increased from £20 million to £30 million - This will support Regenersis' growth plans both organically and through acquisitions with further access to funds.  The costs of borrowing and the covenants remain unchanged.


A new Invoice Discounting facility of £6 million - This will give Regenersis the flexibility to accommodate the greater working capital requirements associated with its new business lines.


The Overdraft facility remains unchanged at £3 million.

The term of the facility has been extended from October 2015 to October 2016 - This gives Regenersis clear certainty of funding over the next three years.


Matthew Peacock, Executive Chairman of Regenersis, said: "We are delighted with the continued support we have received from our bankers HSBC. The increased facilities give Regenersis significant fire power to continue its strategic growth plans and investments in the Emerging Markets and Advanced Solutions divisions."




Regenersis Plc

Matthew Peacock, Executive Chairman

Jog Dhody, Chief Financial Officer

+44 (0) 20 3657 7000

Panmure Gordon (UK) Limited (Nomad and Joint Broker)

Dominic Morley / Nicola Marrin, Corporate Finance

Charles Leigh Pemberton, Corporate Broking

+44 (0) 20 7886 2500

Cenkos Securities (Joint Broker)

Liz Bowman, Corporate Finance

Alex Aylen, Sales

+44 (0) 20 7397 8900

Tavistock Communications

Catriona Valentine / Matt Ridsdale / Keeley Clarke

+44 (0) 20 7920 3150


About Regenersis


With its core business in repairing consumer electronics, Regenersis helps companies like HTC, Nokia, Samsung, Orange, John Lewis, LG, Toshiba and others deliver the best possible after market service to its customers. Through the provision of technical call centres or managing returns and repairs, the company supports a wide range of products including mobile phones, laptops and tablets, set top boxes, televisions and other electronic equipment. Regenersis also operates in the business-to-business environment where it offers high quality and secure repair and refurbishment solutions for chip and pin devices, ATMs and even MRI scanners.


Building upon its success in repair, the company is already proving its pioneering range of services known as Advanced Solutions, which include in-field testing, where Regenersis is partnering with cable operators across the world to diagnose set-top box faults in the home, reducing unnecessary returns. The newly formed Renew business unit comprises Digital Care, which provides extended warranty and insurance services to end customers; Refurbishment, which provides legitimate, quality refurbished components and devices to the end customer; and Recommerce, which offers client led refurbishment, repair and onward disposition of devices.

This information is provided by RNS
The company news service from the London Stock Exchange

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