Debt Refinance

AUCTION TECHNOLOGY GROUP PLC

Auction Technology Group successfully refinances debt facilities

London, United Kingdom, 17 February 2025 -Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG), operator of world-leading marketplaces for curated online auctions, is pleased to announce that it has successfully completed the refinancing of its Senior Term and Revolving Credit Facilities.

The Company has entered into a new $200 million Revolving Credit Facility ("RCF") with a syndicate of five leading banks. The new facility has a four-year term, with a one-year extension option, and replaces the previous facilities which were due to mature in 2026.

The refinancing enhances the Group's financial flexibility and extends the maturity of its debt. The new facility is initially priced at a margin of 200bps over the Secured Overnight Financing Rate ("SOFR"), which represents a reduction compared to the previous facilities.

John-Paul Savant, Chief Executive Officer of Auction Technology Group, said:

"We are pleased to have successfully completed this refinancing, which strengthens our capital structure and provides a more efficient funding arrangement for the Company. The transaction demonstrates the confidence of our lenders in our business and ongoing strategic initiatives."

ATG was advised by Deutsche Numis on the transaction.

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About Auction Technology Group plc

Auction Technology Group plc ("ATG") is the operator of world-leading marketplaces for curated online auctions, seamlessly connecting bidders from around the world to approximately 4,000 trusted auction houses across two major sectors: Industrial & Commercial ("I&C") and Arts & Antiques ("A&A").

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 88,000 live and timed auctions each year and facilitating the sale of approximately 24 million secondary goods items. ATG has offices in the UK, US, Germany and Mexico. 

Numis Securities Limited (which is trading for these purposes as Deutsche Numis) ("Deutsche Numis"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for ATG and no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters in this announcement and will not be responsible to anyone other than ATG for providing the protections afforded to clients of Deutsche Numis, nor for providing advice in relation to any matter referred to in this announcement. Neither Deutsche Numis nor any of its affiliates (nor any of their respective directors, officers, employees or agents), owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Deutsche Numis in connection with this announcement, any statement contained in this announcement or otherwise. No representation or warranty, express or implied, is made by Deutsche Numis as to the contents of this announcement.

CAUTIONARY STATEMENT The announcement may contain forward-looking statements. These statements may relate to (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses or future prospects, and (ii) developments, expansion or business and management strategies of the Company. Forward-looking statements are identified by the use of such terms as "believe", "could", "should", "envisage", "anticipate", "aim", "estimate", "potential", "intend", "may", "plan", "will" or variations or similar expressions, or the negative thereof. Any forward-looking statements contained in this announcement are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialise, or if underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected, estimated or projected. No representation or warranty is made that any forward-looking statement will come to pass. Any forward-looking statements speak only as at the date of this announcement. The Company and its directors expressly disclaim any obligation or undertaking to publicly release any update or revisions to any forward-looking statements contained in this announcement to reflect any change in events, conditions or circumstances on which any such statements are based after the time they are made, other than in accordance with its legal or regulatory obligations (including under the UK Listing Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority). Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.

LEI Number: 213800U8Q9K2XI3WRE39