TPXimpact Holdings PLC Agreement on Debt Covenants and Notice of Results (4673E)
30 Juin 2023 - 8:00AM
UK Regulatory
TIDMTPX
RNS Number : 4673E
TPXimpact Holdings PLC
30 June 2023
30 June 2023
T PXimpact Holdings PLC
("T PXimpact ", or the "Group")
Agreement on Debt Covenants and Notice of Results
TPXimpact Holdings PLC (AIM: TPX) , the technology-enabled
services company focused on people-powered transformation, provides
an update in relation to its debt covenants with HSBC.
Further to the announcements made on 31 January and 31 March
2023, the Board is pleased to report that it has agreed a reset of
the covenant terms applicable to its GBP30m revolving credit
facility with HSBC. Following a waiver of covenants at 30 June
2023, the Group will need to maintain minimum cash liquidity levels
on a monthly basis and also meet minimum Adjusted EBITDA
performance levels on a quarterly basis. Management believe the
updated covenant structure provides renewed stability for the
business and a sound basis for achieving its performance goals.
These terms will apply until the quarter ending 30 September
2024, at which time the covenants will return to the existing
measures based on Net Debt/Rolling 12 month Adjusted EBITDA and
Interest cover.
The Group will announce its Unaudited Preliminary Results for
the year ended 31 March 2023 on Thursday 6 July 2023.
Enquiries:
TPXimpact Holdings Via Alma PR
Steve Winters, Group CFO
Stifel Nicolaus Europe Limited +44 (0) 207 710 7600
(Nomad and Joint Broker)
Alex Price
Fred Walsh
Ben Burnett
Dowgate Capital Limited
(Joint Broker)
James Serjeant
David Poutney
Russell Cook +44 (0) 203 903 7715
Alma PR tpx@almapr.co.uk
(Financial PR) +44 (0) 203 405 0209
Josh Royston
Kieran Breheny
Matthew Young
About TPXimpact
TPXimpact exists to transform the organisations, services and
systems that underpin society and that drive business success. It
applies strategic and creative thinking, technology, innovative
design and user-centred approaches to bring about numerous
improvements which together multiply the impact of change.
The Group works closely with its clients in agile,
multidisciplinary teams that span organisational design,
technology, and digital experiences. It shares a deep understanding
of people and behaviours and a philosophy of putting people and
communities at the heart of every transformation.
The business is being increasingly recognised as a leading
alternative digital transformation provider to the UK public
services sector, with c.65% of its client base representing the
public sector and c.35% representing the commercial sector.
More information is available at www.tpximpact.com.
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END
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