Gateley (Holdings) PLC New Revolving Credit Facility agreed for GBP30m (5790I)
19 April 2022 - 6:52PM
UK Regulatory
TIDMGTLY
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 GBP30m
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 GBP30m until
April 2025, split equally between Bank of Scotland and HSBC UK. It
replaces the Group's existing GBP8m 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 GBP30m 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 Tel: +44 (0) 20 7653
Head of Investor Relations 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
gateleypr@belvederepr.com
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END
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