StatPro Group PLC Financing facilities increase and extension (2563W)
16 April 2019 - 4:00PM
UK Regulatory
TIDMSOG
RNS Number : 2563W
StatPro Group PLC
16 April 2019
16 April 2019
StatPro Group PLC
Financing facilities increase and extension
StatPro Group plc ("StatPro", "the Group", AIM: SOG), the AIM
listed provider of cloud-based portfolio analytics and asset
pricing services for the global asset management industry, has
increased and extended its financing facilities with Wells Fargo
Capital Finance.
The facility has been increased by adding an additional GBP5.2
million of committed facility and an additional GBP6 million of
uncommitted capital. This secured financing facility is available
for acquisitions, share buy-backs and general corporate
purposes.
Following the increase, the total facilities are approximately
GBP49.1 million and comprise:
-- GBP10 million committed revolving credit facility
-- GBP29.1 million committed term/deferred drawdown multi-currency loans
-- GBP10 million uncommitted additional facility available
The term for the committed facility has been extended to April
2024, subject to compliance with agreed covenants, primarily linked
to recurring revenue, adjusted EBITDA and available liquidity. The
financing costs are being amortised over the term of the loan.
Justin Wheatley, Group CEO, StatPro, commented:
"This increase and extension in our flexible financing
facilities provide additional capacity for financing future
acquisitions and also further strengthens the Group's long-term
financial structure."
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking -James Stearns
Instinctif Partners
Adrian Duffield/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio
analytics, asset data services and data management tools for the
global asset management industry and asset management service
providers.
The Group has 10 offices in Europe, North America, South Africa
and Australia, servicing around 500 clients in 40 countries. It is
organised into three divisions: Revolution, Source: StatPro and
Infovest.
Revolution is a global provider of award-winning portfolio
analytics solutions. The cloud-based platform offers vital analysis
of portfolio performance, attribution, risk and compliance.
Revolution helps clients reduce costs, improve client communication
and control investment decisions.
Source: StatPro is a global market data business and provides
Data-as-a-Service to Revolution to enable analytics. The division's
integrated and global data coverage includes millions of securities
covering the full range of financial instruments and
benchmarks.
Infovest, supplies data management solutions for the global
asset management market, including data warehouse technology, ETL,
compliance and reporting tools as well as portfolio management
solutions.
StatPro Group plc shares are listed on AIM.
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END
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