REG - TPXimpact Holdings - Agreement on Debt Covenants and Notice of Results

Tpximpact HoldingsAnnouncement

30/06/2023 07:00

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RNS Number : 4673E  TPXimpact Holdings PLC  30 June 2023

 

30 June 2023

TPXimpact Holdings PLC

("TPXimpact", or the "Group")

 

Agreement on Debt Covenants and Notice of Results

 

TPXimpact Holdings PLC (AIM: TPX), the technology-enabled services company
focused on people-powered transformation, provides an update in relation to
its debt covenants with HSBC.

Further to the announcements made on 31 January and 31 March 2023, the Board
is pleased to report that it has agreed a reset of the covenant terms
applicable to its £30m revolving credit facility with HSBC. Following a
waiver of covenants at 30 June 2023, the Group will need to maintain minimum
cash liquidity levels on a monthly basis and also meet minimum Adjusted EBITDA
performance levels on a quarterly basis. Management believe the updated
covenant structure provides renewed stability for the business and a sound
basis for achieving its performance goals.

These terms will apply until the quarter ending 30 September 2024, at which
time the covenants will return to the existing measures based on Net
Debt/Rolling 12 month Adjusted EBITDA and Interest cover.

 

The Group will announce its Unaudited Preliminary Results for the year ended
31 March 2023 on Thursday 6 July 2023.

 Enquiries:

 TPXimpact Holdings               Via Alma PR

 Steve Winters, Group CFO

 Stifel Nicolaus Europe Limited   +44 (0) 207 710 7600

 (Nomad and Joint Broker)

 Alex Price

 Fred Walsh

 Ben Burnett
 Dowgate Capital Limited           +44 (0) 203 903 7715

 (Joint Broker)

 James Serjeant

 David Poutney

 Russell Cook
 Alma PR                          tpx@almapr.co.uk

 (Financial PR)                   +44 (0) 203 405 0209

 Josh Royston

 Kieran Breheny

 Matthew Young

 

About TPXimpact

TPXimpact exists to transform the organisations, services and systems that
underpin society and that drive business success. It applies strategic and
creative thinking, technology, innovative design and user-centred approaches
to bring about numerous improvements which together multiply the impact of
change.

The Group works closely with its clients in agile, multidisciplinary teams
that span organisational design, technology, and digital experiences. It
shares a deep understanding of people and behaviours and a philosophy of
putting people and communities at the heart of every transformation.

The business is being increasingly recognised as a leading alternative digital
transformation provider to the UK public services sector, with c.65% of its
client base representing the public sector and c.35% representing the
commercial sector.

More information is available at www.tpximpact.com.

 

 

 

 

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