REG - Glantus Holdings PLC - Debt refinancing successfully completed

Glantus HoldingsAnnouncement

22/07/2022 17:45

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RNS Number : 5160T  Glantus Holdings PLC  22 July 2022

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR
MAY HAVE QUALIFIED AS 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.

Glantus Holdings plc

(''Glantus'' or' the ''Company'')

Debt refinancing successfully completed

Glantus (AIM:   GLAN), a leading provider of software as a service
("SaaS") solutions delivering automation and analytics to the Accounts Payable
("AP") function is pleased to confirm that it has successfully refinanced its
debt facilities, with Beachpoint Capital ("BPC").

The key aim of refinancing was to lower the cost of capital for the Company.
After engaging debt brokers and reviewing several offers the Board have
decided to proceed with BPC as they offered the most competitive terms for the
Company.

 

The revised facilities key terms comprise:

 

·      Interest rate reduction to 10% from existing 12%

·      Deferring capital repayments for 12 months

·      Additional working capital facility of €2m to invest in further
product development

·      Maturity of loans remains unchanged at Aug 2023 and July 2025

·      Exit Fee Structure has been improved by reducing the increase in
the exit fee which was set out in the previous agreement.

 

.

 

Maurice Healy, Chief Executive, said:

"I am pleased to be able to announce the successful completion of Glantus'
refinancing today with improved terms. This is an important milestone for our
business, ensuring we have the financial foundations in place to capitalise on
the opportunities ahead."

For further Information visit www.glantus.com (http://www.glantus.com) ,
follow on twitter @GlantusLTD or contact:

Glantus Holdings plc
                                          + 353 87
9452047

Maurice Healy, CEO

Grainne McKeown, CFO

ir@glantus.com (mailto:ir@glantus.com)

 

Shore Capital
 
 
+ 44 207 408 4090

Nominated Advisor and Broker

Patrick Castle / John More / Tom Knibbs (Corporate Advisory)

Andrew Beswick (Corporate Broking)

 

Flagstaff Strategic and Investor Communications

Tim Thompson
                                          + 44 7710
718 649

Mark Edwards

Fergus Mellon

glantus@flagstaffcomms.com (mailto:glantus@flagstaffcomms.com)

 

About Glantus Holdings plc

Glantus Holdings (AIM: GLAN) Glantus is a global provider of accounts payable
automation and analytics solutions. Glantus' mission is to harness technology
to drive innovation, unlocking efficiencies in AP to maximise working capital
for global enterprise organisations. The award-winning Glantus DataShark
Platform connects all AP systems and suppliers on one agile platform,
eliminating cost and delivering new revenue streams. We work in tandem with
our partners to deliver joint enterprise digital transformation solutions. For
more information see glantus.com (https://www.glantus.com/)  .

Founded in 2014 and headquartered in Dublin, Glantus has offices in the United
States, United Kingdom, and Poland, employing over 120 people.

 

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