Real Good Food PLC Increase of Funding Arrangements (3859U)

TIDMRGD

RNS Number : 3859U

Real Good Food PLC

28 July 2020

Real Good Food plc

("RGF" or "the Group")

Increase of Funding Arrangements

Real Good Food plc is pleased to announce that further to its trading update on 08 April 2020 in relation to the impact of COVID-19 and the Group's measures to conserve cash, the Group has increased its receivables facility with Leumi ABL Limited ('Leumi') by a further GBP2.0m (the "Increased Facility"). The total credit facility provided by Leumi now amounts to GBP10.87m.

The Increased Facility is secured against debtors in the Group's Brighter Foods business and has been provided on the same terms as the original receivables facility as announced on 23 August 2019.

Mike Holt, Non-executive Chairman said:

"We are pleased to receive the increased Facilities from Leumi, which will provide us with greater financial manoeuvrability as we navigate the current COVID-19 crisis and continue to improve the competitive position of the Group."

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR").

Enquiries :

 
Real Good Food plc                               Tel: 0151 541 3790 
 Mike Holt, Non-Executive Chairman 
 Maribeth Keeling, Finance Director 
 
finnCap Limited (Nomad and Broker)               Tel: 020 7220 0500 
 Carl Holmes / James Thompson (Corporate 
 Finance) 
 
MHP Communications (Financial PR)                Tel: 020 3128 8100 
 Reg Hoare / Katie Hunt                           rgf@mhpc.com 
About Real Good Food 
 Real Good Food plc is a food manufacturing business serving several 
 market sectors including retail (own label and private label), 
 manufacturing and export. The Company has two businesses, Cake 
 Decoration (Renshaw and Rainbow Dust Colours) and Food Ingredients 
 (Brighter Foods), with leading brands in their chosen markets.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCRPMFTMTBTBBM

(END) Dow Jones Newswires

July 28, 2020 12:30 ET (16:30 GMT)

Real Good Food (LSE:RGD)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024