Fairpoint Group PLC Bank debt and funding facility update (8457J)
03 July 2017 - 4:00PM
UK Regulatory
TIDMFRP
RNS Number : 8457J
Fairpoint Group PLC
03 July 2017
3 July 2017
Fairpoint Group plc
("Fairpoint", the "Group" or the "Company")
Assignment of Bank Debt and Receivables Funding Facility for
Simpson Millar LLP
The Company has today been notified by AIB Group (UK) plc
("AIB") that AIB has assigned its debt due from Fairpoint to
Doorway Capital Limited ("Doorway").
In addition, the Company announces that Doorway, a specialist
provider of capital to law firms, has today provided a Receivables
Funding Facility ("the Facility") of up to GBP5 million to Simpson
Millar LLP, the Company's wholly owned Legal Services business. The
Facility will provide additional working capital for Simpson
Millar.
Fairpoint Group plc
David Broadbent, Chief Executive Officer 0161 876 1310
Shore Capital (Nomad and Joint Broker)
Mark Percy 020 7408 4090
Edward Mansfield
MHP Communications
Reg Hoare fairpoint@mhpc.com
Hannah Winter 020 3128 8793
This information is provided by RNS
The company news service from the London Stock Exchange
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