RCS - Literacy Capital PLC - Increase in credit facility limit to £30 million

Literacy CapitalAnnouncement

27/11/2023 07:00

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RNS Number : 6664U  Literacy Capital PLC  27 November 2023

The information contained in this announcement is restricted and is not for
publication, release or distribution in the United States of America, any
member state of the European Economic Area, Canada, Australia, Japan or the
Republic of South Africa.

 

 

27 November 2023

 

Literacy Capital plc ("Literacy", "BOOK" or the "Company")

 

Increase in credit facility limit to £30 million

 

 

The Company announces that it has agreed an increase to the limit of its
Revolving Credit Facility ("RCF") from £25 million to £30 million, with its
existing lender Investec Bank plc. All other terms remain unchanged.

 

Drawings under the RCF as of today amount to just under £7 million. The
Company's Borrowing Policy permits "indebtedness of up to a maximum of 20 per
cent of its Net Asset Value". However, gearing is expected to remain
conservative throughout the term of this facility and leverage would not be
expected to exceed 10% of net assets.

 

 

-ENDS-

 

 

For further information, please contact:

 

Literacy Capital plc / Book Asset Management LLP

Tom Vernon / Richard Pindar

+44 (0) 20 3960 0280

 

MHP Group

Reg Hoare / Ollie Hoare / Matthew Taylor

book@mhpgroup.com

+44 (0) 20 3128 8100

 

Singer Capital Markets Securities Limited

Robert Peel

+44 (0) 20 7496 3000

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at
https://www.literacycapital.com/ (https://www.literacycapital.com/) .

 

This announcement is for information purposes only and is not an offer to
invest. All investments are subject to risk.  Past performance is no
guarantee of future returns.  Prospective investors are advised to seek
expert legal, financial, tax and other professional advice before making any
investment decision.  The value of investments may fluctuate.  Results
achieved in the past are no guarantee of future results. Neither the content
of the Company's website, nor the content on any website accessible from
hyperlinks on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published by means of
a recognised information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to hold, or
dispose of, securities in the Company.

 

 

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