REG - Cropper(James) PLC - Revised Terms Agreed for UK Banking Facility

James CropperAnnouncement

09/06/2025 07:00

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RNS Number : 8931L  Cropper(James) PLC  09 June 2025

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9 June 2025

James Cropper plc

("James Cropper", the "Company" or the "Group")

Revised Terms Agreed for UK Banking Facility

 

James Cropper (AIM: CRPR), the Advanced Materials and Paper & Packaging
group, is pleased to announce that it has agreed revised terms with its
lenders in relation to its principal UK banking facility.

Under the original terms of the facility, the principal amount drawn at 31
March 2025 (£15m) was repayable in 20 equal quarterly instalments of
£750,000 from June 2025 to March 2030 inclusive. Under the revised terms,
such quarterly repayments have been amended to:

 ·   £400,000 per quarter for the six quarters from June 2025 to September 2026
     inclusive;
 ·   £750,000 per quarter for the four quarters from December 2026 to September
     2027 inclusive; and
 ·   £960,000 per quarter for the remaining ten quarters to March 2030.

The reset enhances the Company's liquidity headroom to support implementation
of the Company's strategic plans.  The interest rate and financial covenants
on the facility remain unchanged.  The Board does not intend to pay dividends
during the period to September 2026.

A further update on strategy is expected to be published on 18 June 2025 in
advance of the Company's Capital Markets Event taking place later the same
day.

David Stirling, Chief Executive Officer, commented:

"We are pleased to have secured this agreement with our lenders which provides
us with greater financial headroom and look forward to updating investors on
our plans for the business on 18 June."

 

 

-ENDS-

Enquiries:

 

 James Cropper plc                                            Tel: +44(0)1539 722002

 David Stirling, Chief Executive Officer

 Andrew Goody, Chief Financial Officer

 Shore Capital - Nominated Adviser and Broker                 Tel: +44 (0)207 408 4090

 Daniel Bush, David Coaten, Henry Willcocks, Lucy Bowden

 IFC Advisory - Financial PR                                  Tel: +44 (0) 203 934 6630

 Graham Herring, Tim Metcalfe, Zach Cohen                     james.cropper@investor-focus.co.uk

About James Cropper plc

James Cropper plc is globally recognised for its specialist capabilities in
the design and manufacture of advanced materials and paper products. Operating
through two principal businesses - Advanced Materials and Paper &
Packaging - and built upon 180 years of innovation, the Group serves a diverse
range of customers with high-performance solutions tailored to specialised
applications.

The Advanced Materials business develops cutting-edge nonwoven materials and
electrochemical coatings for sectors including aerospace, clean energy, and
defence. The Paper & Packaging business offers premium creative papers and
bespoke moulded fibre packaging together with leading recycled-fibre
capabilities and products, supporting the transition to a circular economy.

Headquartered in Burneside (UK), with additional manufacturing sites in Crewe
(UK), Launceston (UK), and Schenectady (USA), James Cropper leverages deep
expertise in material science and longstanding partnerships with
industry-leading businesses and brands to develop bespoke solutions that meet
complex technical and aesthetic specifications.

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