The Merchants Trust PLC
29 January 2020
Debt repayment and lower gearing level
The board is pleased to announce that today the company is repaying £16m of debt under its revolving credit facility. This will take the company's total debt to £93m, and gearing to around 15%*. The board and manager decided to reduce gearing after a period of strong equity market and portfolio returns. The board's formal policy is unchanged and is to maintain gearing in the range of 10%-25% (measured at the time that any increase in total borrowing facilities is agreed).
*Unaudited
Enquiries:
Kirsten Salt
Company Secretary
0203 246 7513
