SID Silverdell

TIDMSID

RNS Number : 7677F

Silverdell PLC

20 June 2012

Silverdell PLC

("Silverdell" or the "Group")

Completion of Acquisition and New Banking Facilities

Silverdell PLC (AIM: SID), the Specialist Environmental Support Services group, is pleased to announce it has completed the acquisition of EDS Group Holdings Limited ("EDS").

As part of the acquisition the Group has agreed new banking facilities with HSBC Bank plc. The facilities include a revolving credit facility of GBP5.45 million and a term loan of GBP3.0 million and have a term of 3 years as well as a GBP1.0m unsecured overdraft. The new facilities will replace the Group's current banking facilities. EDS has an historic relationship with HSBC Bank plc. The new facilities give the Group reduced overall financing costs, improved covenant terms and a global banking relationship.

Sean Nutley, Chief Executive of Silverdell, commented:

"I am delighted we have completed the acquisition of EDS. Over the last three years, Silverdell's business has grown successfully from a leading asbestos removal company to a global Specialist Environmental Support Services group and it is this transformation, along with our enhanced banking facilities, which has created significant opportunities for the business. Silverdell can now integrate the hugely specialised decommissioning and dismantling capabilities of EDS to offer a truly unique, end-to-end proposition for the safe removal and management of all kinds of notifiable and industrial waste in highly regulated, highly hazardous environments."

ENQUIRIES:

 
 Silverdell Plc                       Tel: + 44 20 7389 6827 
 Sean Nutley, Group Chief Executive 
 Ian Johnson, Group Financial 
  Director 
 
 FinnCap                              Tel: + 44 20 7220 0500 
 Marc Young (Corporate Finance) 
  Ben Thompson (Corporate Finance) 
 Victoria Bates (Corporate Broking) 
 
 College Hill                         Tel: + 44 20 7457 2020 
 Helen Tarbet 
 Mark Garraway 
 
 

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END

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