REG - Roadside Real Estate - Update on debt refinancing

Roadside Real EstateAnnouncement

28/03/2024 13:15

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RNS Number : 7589I  Roadside Real Estate PLC  28 March 2024

This announcement contains 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 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 

Roadside Real Estate PLC

 

("Roadside" or the "Company")

 

Update on debt refinancing

 

Delay in publication of its audited accounts for the period ended 30 September
2023

 

Roadside, (AIM: ROAD) the roadside real estate business, provides an update on
its intention to refinance its existing debt facilities and an update on the
timings of the publication of its accounts for the period ended 30 September
2023.

 

The Company is in the closing stages of completing the issue of £10 million
principal amount of secured loan notes (the "Loan Notes"). The Loan Notes will
attract a coupon of 14% for a period of 24 months and will be secured against
the Company's assets and undertaking, including its shareholding in Cambridge
Sleep Sciences ("CSS") as well as the assets and undertaking of CSS. The
Company will also agree to pay a bonus to subscribers of the Loan Notes which
will allow them to participate in an exit option of the Company's CSS
shareholding under preferential terms. A further announcement confirming
completion of the refinancing is expected shortly, where full terms of the
refinancing will be included.

 

Delay of results

The Company has been working with its auditors to publish its accounts for the
period ended 30 September 2023 by 7.00 am on 2 April 2024. While the audit is
substantially complete, resourcing capacity shortages and senior personnel
compassionate leave mean that the Company will be unable to publish its
accounts by 7.00 am on 2 April 2024. Accordingly, trading in the Company's
shares will be suspended on AIM from 7.30 am on 2 April 2024.

 

The Company expects to publish its results during the week commencing 8 April
2024, after which the suspension from trading will be lifted.

 

Further announcements will be made as appropriate.

 

- Ends -

 

Enquiries:

 

 Roadside Real Estate PLC

 Charles Dickson, Executive Chairman

 c/o Montfort

 Montfort

 Olly Scott                                                                     +44 (0)78 1234 5205

 Georgia Colkin                                                                 +44 (0)75 4284 6844

 Cavendish Capital Markets Limited (Nomad and Joint Corporate Broker)           +44 (0)20 7220 0500

 Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance)

 Tim Redfern (ECM)

 Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker)  +44 (0)20 7710 7600

 Mark Young

 Jonathan Wilkes-Green

 Catriona Neville

 

About Roadside

Roadside is a real estate business focused on building and scaling a
high-quality portfolio of modern roadside retail assets, including modern EV
charging infrastructure.

 

 

 

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