REG - EnSilica PLC - New Debt Facility

EnSilicaAnnouncement

04/11/2024 07:00

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RNS Number : 7543K  EnSilica PLC  04 November 2024

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK Market Abuse
Regulation.

 

4 November 2024

 

EnSilica plc

("EnSilica", the "Company" or the "Group")

 

New Debt Facility

 

EnSilica, a leading chip maker of mixed signal ASICs (Application Specific
Integrated Circuits), is pleased to announce that it has secured a new debt
facility to refinance its existing external loan facilities, providing total
funding of up to £9 million and extending out to November 2029 (the
"Facility").

 

The Facility has been agreed with Lloyds Bank Group plc, providing the Company
with additional flexibility to underpin ongoing working capital commitments,
and ensuring that EnSilica can fully capitalise on its existing new business
pipeline.

 

The Facility consists of a three-year £3 million repayment term loan facility
and a five-year £3 million revolving credit facility with an accordion option
for an additional £3 million subject to credit approval by the lender. The
Facility also improves the borrowing costs of the Company. The Facility
agreements contain normal market terms and financial covenants.

 

Kristoff Rademan, Chief Financial Officer of EnSilica, commented:

 

"We are delighted to have secured a new debt financing package for the
business, which strengthens our underlying finances and supports our working
capital commitments going forward."

 

For further information please contact:

 

 EnSilica plc                                                        via Vigo Consulting

 Ian Lankshear, Chief Executive Officer                              +44 (0)20 7390 0233

 Kristoff Rademan, Chief Financial Officer

 www.ensilica.com (http://www.ensilica.com/)

 Allenby Capital Limited, Nominated Adviser & Joint Broker           +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)                  info@allenbycapital.com (mailto:info@allenbycapital.com)

 Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)

 Singer Capital Markets, Joint Broker

 Rick Thompson / Asha Chotai                                         +44 (0)20 7496 3000

 Vigo Consulting (Investor & Financial Public Relations)             +44 (0)20 7390 0233 ensilica@vigoconsulting.com

                                                                   (mailto:visum@vigoconsulting.com)
 Jeremy Garcia / Kendall Hill / Anna Stacey

 

The person responsible for arranging release of this announcement on behalf of
the Company is Kristoff Rademan, Chief Financial Officer.

 

About EnSilica

 

EnSilica is a leading fabless design house focused on custom ASIC design and
supply for OEMs and system houses, as well as IC design services for companies
with their own design teams. The company has world-class expertise in
supplying custom RF, mmWave, mixed signal and digital ICs to its international
customers in the automotive, industrial, healthcare and communications
markets. The company also offers a broad portfolio of core IP covering
cryptography, radar, and communications systems. EnSilica has a track record
in delivering high quality solutions to demanding industry standards. The
company is headquartered near Oxford, UK and has design centres across the UK
and in Bangalore, India and Porto Alegre, Brazil.

 

 

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