Barkby Group PLC Intention to refinance debt facilities (5370V)

TIDMBARK

RNS Number : 5370V

Barkby Group PLC

04 December 2023

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Barkby Group PLC

("Barkby", or the "Company")

Intention to refinance debt facilities

Barkby (AIM: BARK) announces its intention to refinance its existing debt facilities, including the GBP12 million debt facility, (the "Facility") provided by Tarncourt Properties Limited, ("Tarncourt") a vehicle controlled by the Executive Chairman of the Company, Charles Dickson and his family. The Facility was revised on 30 December 2022 and interest is paid at a rate of 3.0% over the Bank of England's prevailing base rate, with an expiry date of 30 June 2024.

Following the announcement of 31 October 2023 of the Company's joint venture with Meadow Partners LLP, ("Meadow Partners") the Board intends to simplify the Company's capital structure and is considering a new, sterling denominated, private debt offering, (the "Offering") which would be issued on market terms. Certain existing shareholders are likely to participate in the Offering.

As at 30 November 2023, net cash available to the Company, including undrawn facilities, remains at GBP2.0 million.

A further announcement will be made as appropriate.

- Ends -

Enquiries:

 
 Barkby Group PLC 
  Charles Dickson, Executive Chairman 
  c/o Montfort 
 
                                                        +44 (0)78 1234 
 Montfort                                               5205 
  Olly Scott                                            +44 (0)75 4284 
  Georgia Colkin                                        6844 
 Cavendish Capital Markets Limited (Nomad and 
  Broker) 
  Carl Holmes / Simon Hicks / Fergus Sullivan 
  (Corporate Finance)                                 +44 (0)20 7220 
  Tim Redfern (ECM)                                    0500 
 Stifel Nicolaus Europe Limited (Financial Adviser 
  and Joint Corporate Broker) 
  Mark Young 
  Jonathan Wilkes-Green                               +44 (0)20 7710 
  Catriona Neville                                     7600

About Barkby

Barkby is a roadside real estate business focused on building and scaling a high-quality portfolio of modern assets.

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December 04, 2023 02:00 ET (07:00 GMT)

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