2 May 2024
Lords
Group Trading plc
('Lords',
the 'Group' or the 'Company')
Extension
of Group Lending Facilities
Lords, a leading distributor of
building materials in the UK, is pleased to announce an extension
in relation to the Group's existing £95 million lending facilities
(the 'Facilities').
The terms of the Facilities, which
consist of a £70 million revolving credit facility (the 'RCF') and
a £25 million receivables financing facility, were announced by the
Company on 6 April 2023 and, pursuant to the extension now entered,
the RCF has now been extended from its initial three year term by
12 months such that the RCF will now expire on 5 April
2027.
Shanker Patel, Chief Executive
Officer of Lords, said:
"We are delighted to announce the
extension of the Company's lending facilities, which provide
support for Lords' medium term growth ambitions, particularly our
M&A strategy, and demonstrate the confidence our lending
partners have in the prospects of the Group."
- Ends -
FOR
FURTHER ENQUIRIES:
|
Lords Group Trading plc
|
Via
Buchanan
|
|
Gary O'Brien, Non-Executive
Chairman
Shanker Patel, Chief Executive
Officer
|
Tel: +44
(0) 20 7466 5000
|
|
Cavendish Capital Markets Limited
Nominated Adviser and Joint Broker
|
Tel: +44
(0)20 7220 0500
|
|
Ben Jeynes / Dan Hodkinson
(Corporate Finance)
Julian Morse / Henry Nicol / Charlie
Combe (Sales and ECM)
|
|
|
Berenberg
Joint Broker
Matthew Armitt / Richard Bootle /
Detlir Elezi
|
Tel: +44
(0)20 3207 7800
|
|
Buchanan Communications
|
Tel: +44
(0) 20 7466 5000
|
|
Henry Harrison-Topham / Steph
Whitmore / Abby Gilchrist
|
LGT@buchanan.uk.com
|
Notes to editors:
Lords is a specialist distributor of
building, plumbing, heating and DIY goods. The Group
principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails
directly to the general public.
The Group operates through the
following two divisions:
· Merchanting: supplies building
materials and DIY goods through its network of merchant businesses
and online platform capabilities. It operates both in the
'light side' (building materials and timber) and 'heavy side'
(civils and landscaping), through 31 locations in the
UK.
· Plumbing and Heating: a specialist
distributor in the UK of plumbing and heating products to a UK
network of independent merchants, installers and the general
public. The division offers its customers an attractive
proposition through a multi-channel offering. The division
operates over 17 locations enabling nationwide next day delivery
service.
Lords was established over 35 years
ago as a family business with its first retail unit in Gerrards
Cross, Buckinghamshire. Since then, the Group has grown to a
business operating from 48 sites.
Lords was admitted to trading on AIM
in July 2021 with the ticker LORD.L. For additional
information please visit www.lordsgrouptradingplc.co.uk.
