REG - Braime Group PLC - New Loan Agreement

BraimeAnnouncement

23/05/2025 07:00

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RNS Number : 8701J  Braime Group PLC  23 May 2025

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service (RIS), this inside information
will be in the public domain.

 

Braime Group PLC

("Braime" or the "Company" and together with its subsidiaries the "Group")

 

New Loan Agreement

 

Further to the announcement of 17 January 2025, the Company confirms that it
has now executed a new loan agreement with HSBC (the Company's bankers) for a
£2 million development loan to finance the Oil Can Roof replacement at the
Group's headquarters at Hunslet Road, Leeds ("Oil Can Roof Project)". The loan
(which will be included in the existing HSBC charge over the Company's
property) incurs an interest rate of 2.5% above the Bank of England base rate
and is for a period of the earlier of (i) 18months or (ii) the completion of
the Oil Can Roof Project (the "New Loan").

 

The Company currently intends to convert the New Loan to a five-year term loan
on completion of the Oil Can Roof Project, on terms yet to be agreed (although
it is intended that it will be on similar terms as the New Loan).

 

Further announcements will be made in due course as appropriate.

 

For further information please contact:

 

Nicholas Braime - Chairman

Cielo Cartwright - Chief Financial Officer

0113 245 7491

 

Zeus Capital Limited

Katy Mitchell

0113 394 6628

 

 

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