REG - Elixirr Intnl PLC - Revolving Credit Facility

Elixirr InternationalAnnouncement

14/10/2024 07:00

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RNS Number : 9625H  Elixirr International PLC  14 October 2024

ELIXIRR INTERNATIONAL PLC

("Elixirr" or the "Group")

Revolving Credit Facility to Support M&A

 

Elixirr International plc (AIM:ELIX), an established, global award-winning,
challenger consultancy, is pleased to have agreed a £45m revolving credit
facility (the "Facility") with National Westminster Bank Plc to support
delivery of the Group's organic and inorganic growth strategy, whilst limiting
equity dilution.

The key terms of the Facility are:

·     £45m revolving credit facility with the flexibility to be drawn
in multiple currencies, including Pound Sterling and United States Dollar;

·    Interest rate at a margin of 1.95%-2.60%, dependent on leverage,
over SONIA (Sterling Overnight Index Average) or SOFR (Secured Overnight
Financing Rate), dependent on currency;

·   Revolving facility, with flexibility to be drawn and repaid, with the
undrawn portion only subject to a commitment fee of 35% of the above margin;

·      Standard leverage and interest cover covenants; and

·      Four-year term, with a one-year extension option if mutually
agreed.

Graham Busby, Chief Financial Officer and Head of M&A commented:

"We are pleased to have put in place a revolving credit facility with NatWest,
which, together with the Group's strong cash generation, significantly
enhances our ability to deploy capital and accelerate future acquisitions
whilst effectively managing equity dilution."

Enquiries:

For enquiries, please refer to our Investor Contacts page:

https://www.elixirr.com/investors/investor-contacts

Elixirr International plc
                                        +44 (0)20 7220
5410

Stephen Newton, Chief Executive Officer

Graham Busby, Chief Financial Officer

investor-relations@elixirr.com

Cavendish Capital Markets Ltd (Nominated Adviser & Joint Broker)  +44
(0)20 7220 0500

Stephen Keys, Callum Davidson (Corporate Finance),

Sunila De Silva (ECM)

Investec Bank plc (Joint Broker)
                               +44 (0) 20 7597 4000

Carlton Nelson, Henry Reast (Corporate Broking)

 

About Elixirr International plc

Elixirr is an award-winning global consulting firm working with clients across
a diverse range of industries, markets and geographies.

Founded in 2009, the firm set out to be the 'challenger consultancy' and do
things differently than the large corporate consultancies dominating the
industry: working openly and collaboratively with clients from start to
finish, delivering outcomes based on innovative thinking, not methodology, and
treating each client's business like their own. Elixirr has been quoted on the
AIM market of the London Stock Exchange since 2020. In addition to strong
organic growth, Elixirr has acquired six boutique firms - Den Creative, Coast
Digital, The Retearn Group, iOLAP, Responsum and Insigniam - to grow the
Group's capabilities, diversify the business, expand into new geographies and
access new clients.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

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