REG - Gateley (Holdings) - New Revolving Credit Facility agreed for £30m

Gateley (Holdings)Announcement

19/04/2022 10:00

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RNS Number : 5790I  Gateley (Holdings) PLC  19 April 2022

19 April 2022

GATELEY (HOLDINGS) PLC

("Gateley" or the "Group")

AIM: GTLY

 

New Revolving Credit Facility agreed for £30m

 

Gateley, the legal and professional services group, is pleased to announce
that it has agreed a new revolving credit facility with Bank of Scotland and
HSBC UK.

The facility provides total committed funding of £30m until April 2025, split
equally between Bank of Scotland and HSBC UK. It replaces the Group's existing
£8m overdraft facilities with Bank of Scotland and HSBC UK with the dual bank
club providing increased flexibility to the Group to support future growth and
expansion via acquisition.  Interest is payable on the loan at a margin of
1.95% above the SONIA reference rate.

 

Rod Waldie, Gateley Chief Executive Officer, said:

 

"We are delighted to have agreed this new £30m facility with our long-term
supportive banking partners of Bank of Scotland and HSBC UK. The facility will
provide us with additional headroom to continue with our stated strategy to
grow organically and through acquisitions.  We continue to position ourselves
to invest in and grow our Platforms to provide an increasing breadth of
services to our clients.

 

The aggregation of complementary legal and consultancy services on our four
market-facing Platforms of Corporate, Business Services, People and Property
continues to differentiate Gateley, strengthen our appeal to clients and
enhance our resilience."

 

Enquiries:

 

 Gateley (Holdings) Plc
 Neil Smith, Finance Director                                      Tel: +44 (0) 121 234 0196
 Nick Smith, Acquisitions Director and Head of Investor Relations  Tel: +44 (0) 20 7653 1665
 Cara Zachariou, Head of Corporate Communications                  Tel: +44 (0) 121 234 0074 Mob: +44 (0) 7703 684 946

 Liberum - Nominated Adviser and Broker

 Richard Lindley/Ben Cryer/Cara Murphy                             Tel: +44 (0) 20 3100 2000

 Belvedere Communications Limited - Financial PR
 Cat Valentine                                                     Mob: +44 (0) 7715 769 078
 Keeley Clarke                                                     Mob: +44 (0) 7967 816 525
 Llew Angus                                                        Mob: +44 (0) 7407 023 147
                                                                   gateleypr@belvederepr.com (mailto:gateleypr@belvederepr.com)

 

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