HAT.GB H & T Group

TIDMHAT

RNS Number : 8822G

H&T Group PLC

24 July 2023

24 July 2023

H&T Group plc

("H&T," the "Company" or the "Group")

Announcement of Increased Bank Financing

H&T Group Plc ("H&T" or "The Group"), the UK's largest pawnbroker and a leading retailer of new and pre-owned jewellery and watches, today announces an increase in the financing facilities provided by its longstanding bankers, Lloyds Bank plc.

The Group is pleased to have received the further support of its bankers, in the form of an increase to the available funding facility, which has been increased to GBP50m (previously GBP35m).

The facility comprises a combination of a GBP45m revolving credit facility, expiring in December 2025, with the option to extend for a period of up to two further years, and a GBP5m annual overdraft facility.

The revolving credit facility is subject to revised margins of between 2.4% and 3.3% (previously 1.7% and 2.45%) above SONIA, with an unchanged non-use fee of 50% of the margin on the undrawn portion of the facility. There has been no change to the existing covenants.

The overdraft margin remains unchanged at 1.7% above the Bank of England base rate and renews annually in December.

This additional finance will be used to fund further growth in the pledge book and investment in the store portfolio.

Enquiries

 
 H&T Group plc 
  Chris Gillespie, Chief Executive 
  Officer 
  Diane Giddy, Chief Financial 
  Officer                                 +44(0)20 8225 2700 
 Shore Capital Ltd (Nominated 
  Advisor and Broker 
  Stephane Auton/Iain Sexton 
  (Corporate Advisory) 
  Guy Wiehahn/Isobel Jones (Corporate 
  Broking)                                +44(0)20 7408 4090 
 Alma PR (Public Relations)               +44(0)20 3405 0205 
  Sam Modlin                              handt@almapr.co.uk 
  Andy Bryant 
  Pippa Crabtree 
 

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July 24, 2023 02:00 ET (06:00 GMT)

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