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IN BRIEF: Carclo formally signs agreement amending banking covenants

18th Jul 2023 11:36

Carclo PLC - West Yorkshire, England-based engineering solutions provider for the medical, optical and aerospace industries - Formally signs agreement with its lending bank to amend its banking covenants, that was previously announced on June 23. Carclo says that this was an ongoing concern following preliminary annual report, that it had not yet formally signed this agreement. The directors believe that following the formal signing of the revised covenant agreement, that this uncertainty is removed.

Carclo announced its banking covenant adjustment on June 23, saying that it sought to amend the interest cover and net leverage covenants for the testing periods from June 2023 through to the maturity of the current facility in June 2025.

Current stock price: 13.93 pence, up 7.7%

12-month change: down 27%

By Will Neill, Alliance News reporter

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