REG - Walker Crips Group - Working Capital Loan Drawdown Facility

Walker CripsAnnouncement

31/07/2025 17:45

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RNS Number : 4922T  Walker Crips Group plc  31 July 2025

 

 

Walker Crips Group plc

 

("Walker Crips" or the "Company")

 

Working Capital Loan Drawdown Facility Secured

 

Walker Crips announces that it has secured a £5m Working Capital Loan
Drawdown Facility ('Facility') from its largest shareholder, Phillip Brokerage
Pte Ltd ('PhillipCapital'). The Facility provides the Company with necessary
funding to support its future plans and reinforce the Company's financial
stability.

 

The Facility is for a maximum of £5m, with a fixed term of 2 years from 31
July 2025. Interest will only be charged on the amount drawn down at 9.07% per
annum, and there is a one-off Facility Fee of 1% (£50,000). Other than the
one-off Facility Fee, there will be no other costs if no drawdown has been
made. The Facility can be repaid at any time without penalty.

 

If any amount of the Facility (including accrued but unpaid interest) remains
drawn down six months from the date of the agreement, the Company will be
required to initiate a rights issue for the purpose of repayment of the
Facility. If the Facility is undrawn or is drawn and repaid in full (including
accrued interest) as at 31 January 2026 then there will be no requirement for
the Company to initiate a rights issue. The Company intends to repay any drawn
amounts ahead of 31 January 2026.

 

The Company requires this funding in light of an especially challenging last
financial year, as announced in the Company's full year results to 31 March
2025. As a result of a number of historic issues, there has been a requirement
both to fund substantial investment in legal and consulting services, as well
as the recruitment of additional Compliance personnel. The Facility has
therefore been put in place to reinforce the Company's financial position
following significant expenditure, and will be utilised to support the
Company's growth plans in the near term.

 

Jo Welman, Chairman, commented: "We have secured a £5m loan facility from
PhillipCapital, one of our major shareholders, to provide the necessary
funding to support our future plans and reinforce the Group's financial
stability. The availability of this loan is instrumental, without it, the
Group would lack the capacity to implement essential changes and invest in the
growth strategies required to move our business forward. We continue to
actively explore a broad range of strategic options aimed at further
strengthening our balance sheet and positioning the Group for long-term
success."

 

Additional information

 

Phillip Brokerage PTE Ltd and its connected parties hold 12,359,803 shares in
the Company, equivalent to 29.03% per cent. of the Company's issued share
capital. As a result of its shareholding in the Company, Phillip Brokerage PTE
Ltd is defined as a related party under the UK Listing Rules ("UKLRs") and the
provision of the Facility constitutes a related party transaction under
paragraph 8.2.1R of the UKLRs.

 

The Board (comprised for these purposes of all directors with the exception of
Hua Min Lim and Linus Lim) confirms its view that the provision of the
Facility is fair and reasonable as far as the shareholders of Walker Crips are
concerned and that the Board has been so advised by Singer Capital Markets in
its role as the Company's sponsor in connection with the Facility.

 

 

For further information, please contact:

 

 Walker Crips Group plc                  Tel:   +44 (0)20 3100 8000

 Craig Harrison, Media Relations
 Singer Capital Markets                  Tel:   +44 (0)20 7496 3000

 Charles Leigh-Pemberton / Asha Chotai

 

Further information on Walker Crips Group is available on the Company's
website: www.walkercrips.co.uk (http://www.walkercrips.co.uk/)

 

 

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