REG - Rank Group PLC - Business Update

RankAnnouncement

07/07/2021 07:00

RNS Number : 3755E
  
Rank Group PLC
  
07 July 2021
  
 

7 July 2021
The Rank Group Plc
LEI: 213800TXKD6XZWOFTE12
Business Update 
The Rank Group Plc (LSE: RNK) ('Rank' or 'the Group') provides an update on its banking facilities
Rank is pleased to announce that it has signed a new two year £25m Revolving Credit Facility ('RCF') agreement with Lloyds Bank plc.  The facility provides the Group with additional liquidity and the opportunity, when we are confident that the Group is delivering sustainable positive cashflows, to accelerate investment in the Group's transformation plan.
The new facility is subject to the same financial covenant waiver and associated conditions, including a quarterly minimum £50m cash and available facilities test, that are in place across the Group's other bank facility agreements.
This new facility is in addition to the Group's existing £55m RCF and the remaining £108.4m term loan.
Ends



Contacts:


 




Rank


 




Sarah Powell - investor relations


Tel: +44 1628 504 303




 


 




Media Enquiries:


 




FTI Consulting LLP (PR adviser to Rank)


 




Edward Bridges                


Tel: +44 20 3727 1067




Alex Beagley


Tel: +44 20 3727 1045



 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
MSCEAFXKEAKFEAA