JNY Journey Grp

 

TIDMJNY 
 
RNS Number : 1412S 
Journey Group PLC 
03 September 2010 
 
 
                                Journey Group plc 
     Journey Group plc refinances with a GBP4.5million, three-year facility 
Journey Group Plc ("Journey" or the "Group"), a leading provider of in-flight 
products, catering and media services to the travel and airline industry today 
announces a refinancing of its GBP3.25million borrowing facilities, due to 
expire on 31 August 2010. 
The new facility totalling GBP4.5 million has been agreed with a new investor 
with a term of three years. Under the arrangement, the new investor has been 
issued with warrants of over up to 35,185,825 new ordinary shares in Journey 
(approximately 10% of the Group's fully diluted share capital) exercisable at a 
price of 1p per share on or before 2 September 2020. 
Stephen Yapp, Chairman said, 'I am delighted that we have secured longer term 
financing for the Group for the first time in several years. This marks the end 
of a long restructuring exercise and builds on the GBP5.0 million cash injection 
from the Alpha-Airfayre Limited joint venture deal that we secured in November 
2009. 
Our ability to raise increased and more stable facilities in a difficult lending 
environment is a testament to the current state of the Group's business and its 
future prospects. These new facilities will enable management to look ahead with 
increased confidence and will provide much needed cash resources to invest in 
developing our business.' 
The Group's half year results will be announced in late September 2010. 
 
 
Journey Group plc contacts: 
Stephen Yapp 
+44 (0)208 606 2000 
info@journeygroup.plc.uk 
 
Carl Fry 
+44 (0)208 606 2000 
info@journeygroup.plc.uk 
 
 
KBC Peel Hunt Ltd (Nominated Adviser & Broker) 
+44 (0)20 7418 8900 
David Anderson / Daniel Harris 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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