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On 16 November 2023, a wholly owned subsidiary of The Conygar Investment Company PLC entered into a new debt facility agreement with A.S.K. Partners Limited. The facility is for a maximum of £12 million, with a minimum term of 2 years, and an interest rate of the Bank of England base rate plus 5.9%. This loan is secured on part of The Island Quarter site in Nottingham and will be utilised for plots at that site and a planning application for a potential acquisition site in Bristol.
| Date | 16 Nov 2023 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 6036T |
THE CONYGAR INVESTMENT COMPANY PLC
(THE "COMPANY")
NEW DEBT FACILITY
The Board is pleased to announce that a wholly owned subsidiary of the Company has entered into a new debt facility agreement with A.S.K. Partners Limited ("ASK") for a maximum of £12 million. The loan will be utilised by the Company to further progress certain plots at The Island Quarter site in Nottingham, in addition to the planning application for its potential acquisition site in Bristol.
The term of the loan is for a minimum of 2 years. The interest rate is calculated by reference to the Bank of England base rate plus a margin of 5.9% and is secured on part of The Island Quarter site in Nottingham.
Robert Ware, Chief Executive of the Company, commented:
"We are delighted to have secured the facility with ASK which now enables the further progression of both our substantial mixed-use projects at Nottingham and Bristol."
Enquiries:
The Conygar Investment Company PLC
Robert Ware / Freddie Jones / David Baldwin 020 7258 8670
Liberum Capital Limited (Nominated Adviser and Broker)
Richard Lindley / Jamie Richards 020 7183 1190
Temple Bar Advisory (Public Relations)
Alex Child-Villiers 07995 425580
Will Barker 07827 960151