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Pebble Beach Systems Group PLC announced on April 14, 2022, it secured a new £7.15 million term loan facility from Santander, refinancing its existing revolving credit facility and extending to September 30, 2024. The company also expects to announce its full year results for the year ended December 31, 2021, on Thursday, May 5, 2022.
| Date | 14 Apr 2022 |
| Time | 10:52:24 |
| Category | Results |
| ID | 4227I |
14 April 2022
Pebble Beach Systems Group plc
("Pebble" or the "Group")
New Banking Facility & Notice of Full Year Results
New Term Loan Banking Facility
Pebble has a good relationship and communication with its bank Santander and is pleased to announce that it has secured a new term loan facility, refinancing the current revolving credit facility. The new £7.15 million term loan facility extends to 30 September 2024 with revised banking covenants and a repayment schedule consistent with previous years allowing us to make ongoing investment in new technology solutions.
Pebble has systematically reduced its bank debt from £11.5 million at 31 December 2017 to £7.55 million at the end of 2021 and to £7.15 million as of today. The reduction in bank debt has been made from operating cash flows at a rate of c.£1m per annum.
Notice of Full Year Results
Pebble expects to announce its full year results for the year ended 31 December 2021, on Thursday 5 May 2022 and for the results to be consistent with the trading update released on 25 January 2022.
For further information please contact:
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Peter Mayhead - CEO David Dewhurst - CFO |
+44 (0) 75 55 59 36 02
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finnCap Ltd (Nominated Adviser and Broker) Graham Cooke / Krishan Raval - Debt Advisory Marc Milmo / Teddy Whiley - Corporate Finance Tim Redfern / Sunila de Silva - ECM
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+44 (0) 207 220 0500 |
The Company is listed on the LSE AIM market (PEB.L). More information can be found at www.pebbleplc.com.