Information  X 
Enter a valid email address

Water Intelligence (WATR)

  Print      Mail a friend

Thursday 04 February, 2021

Water Intelligence

Credit Facility Expansion, Trading Update Notice

RNS Number : 9395N
Water Intelligence PLC
04 February 2021
 

Water Intelligence plc

("Water Intelligence" or the "Company")

Expansion of Credit Facility

Notice of Year-end Trading Update

Water Intelligence, a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water infrastructure, is pleased to announce that it has expanded its credit facilities ("Credit Facilities") by $3.2 million in order to further accelerate growth for 2021.

During 4Q 2020, the Company announced that it had refinanced and expanded its Credit Facilities both to reduce the cost of existing debt over the next five years and to create new financing capacity of $8 million to fuel growth.  During December, Water Intelligence put capital to work by announcing three accretive franchise reacquisitions to accelerate growth for 2021 and beyond.  

Today's additional expansion of the Credit Facilities, by a further $3.2 million in term debt, takes advantage of the current low interest rate environment and is made possible by the Company's consistently strong financial performance.

Water Intelligence plans to provide its full-year 2020 Trading Update next week.

Dr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented:   "We are excited to deliver for 2021 and to surpass the high bar that we typically set for ourselves.  Today's non-dilutive financing delivers additional value to our shareholders."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014

Enquiries:

Water Intelligence plc

 

Patrick DeSouza (Executive Chairman)

Adrian Hargrave (VP, Corporate Development)

 

Tel: +1 203 654 5426

Tel: +44 (0)7775 701 838

 

Dowgate Capital Limited (Financial Adviser and Joint Broker)

Stephen Norcross

 

 

 

Tel: +44(0)7920 599 793

WH Ireland Limited (Nomad and Joint Broker)

 

Adrian Hadden

James Sinclair-Ford

Matthew Chan

Tel: +44 (0)20 7220 1666

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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.
 
END
 
 
MSCDXGDDCDGDGBX

a d v e r t i s e m e n t