RNS Number : 5790I

Gateley (Holdings) PLC

19 April 2022

19 April 2022


("Gateley" or the "Group")


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."


Gateley (Holdings) Plc 
Neil Smith, Finance Director                           Tel: +44 (0) 121 234 
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 
Belvedere Communications Limited - Financial 
Cat Valentine                                         Mob: +44 (0) 7715 769 
Keeley Clarke                                         Mob: +44 (0) 7967 816 
Llew Angus                                            Mob: +44 (0) 7407 023 

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(END) Dow Jones Newswires

April 19, 2022 04:52 ET (08:52 GMT)

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