REG - H&T Group PLC - Announcement of Increased Bank Financing

H & TAnnouncement

24/07/2023 07:00

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RNS Number : 8822G  H&T Group PLC  24 July 2023

24 July 2023

H&T Group plc

("H&T," the "Company" or the "Group")

 Announcement of Increased Bank Financing

H&T Group Plc ("H&T" or "The Group"), the UK's largest pawnbroker and
a leading retailer of new and pre-owned jewellery and watches, today announces
an increase in the financing facilities provided by its longstanding bankers,
Lloyds Bank plc.

The Group is pleased to have received the further support of its bankers, in
the form of an increase to the available funding facility, which has been
increased to £50m (previously £35m).

The facility comprises a combination of a £45m revolving credit facility,
expiring in December 2025, with the option to extend for a period of up to two
further years, and a £5m annual overdraft  facility.

The revolving credit facility is subject to revised margins of between 2.4%
and 3.3% (previously 1.7% and 2.45%) above SONIA, with an unchanged non-use
fee of 50% of the margin on the undrawn portion of the facility. There has
been no change to the existing covenants.

The overdraft margin remains unchanged at 1.7% above the Bank of England base
rate and renews annually in December.

This additional finance will be used to fund further growth in the pledge book
and investment in the store portfolio.

Enquiries

 H&T Group plc                                                                              +44(0)20 8225 2700

 Chris Gillespie, Chief Executive Officer

 Diane Giddy, Chief Financial Officer

 Shore Capital Ltd (Nominated Advisor and Broker                                            +44(0)20 7408 4090

 Stephane Auton/Iain Sexton (Corporate Advisory)

 Guy Wiehahn/Isobel Jones (Corporate Broking)

 Alma PR (Public Relations)                                                                 +44(0)20 3405 0205

 Sam Modlin                                                                                 handt@almapr.co.uk

 Andy
 Bryant

 Pippa Crabtree

 

 

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