4th Nov 2014 12:15
LONDON (Alliance News) - Rotala PLC Tuesday said it has entered into a revised suite of banking facilities with Royal Bank of Scotland and Natwest.
The new facilities total GBP18 million and replace the company's existing facilities of GBP11 million. The new facilities include a loan facility of GBP7 million, a revolving facility of GBP9 million and an overdraft facility of GBP2 million. The maturity date of all the new facilities is April 30, 2018.
Rotala's net debt at the end of the year is forecast to be around GBP17 million and taking into account the new facilities that are now in place and parallel asset finance facilities, the company will have around GBP10 million of headroom at the end of the financial year, it said in a statement.
The headroom will provide the company with the capacity to finance potential acquisitions and enable Rotala to fund share buy backs should the opportunity arise, it added.
Rotala shares were untraded on Tuesday. The stock last traded at 56.00 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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