5th Jan 2015 07:00
For immediate release 5 January 2015
Redhall Group plc
("Redhall" or the "Group")
Bank Facility Update
Redhall Group plc (AIM: RHL), the specialist engineering support services group, has been notified that Henderson Volantis Capital ("Henderson") has entered into an agreement with HSBC Bank plc to purchase £10.0 million of the Group's bank facility. Henderson currently holds 27.69% of the issued ordinary share capital of Redhall.
The agreement will be governed by way of an inter creditor agreement between Henderson and HSBC. There is no amendment to the terms of the bank facility between HSBC and the Group, including margins and covenants.
Martyn Everett, Chairman of Redhall, commented:
"We are pleased that our major shareholder, Henderson, has taken this opportunity to invest further in Redhall. This clearly demonstrates their confidence in the Group and its prospects. The management team remain focussed on delivering the strategic plan, which was set out in the announcement on 4 December 2014, with the full on-going support of Henderson and HSBC".
Contact details:
Redhall Group plc | Tel: +44 (0) 1924 385 386 |
Phil Brierley, Chief Executive Chris Kelly, Group Finance Director |
|
|
|
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Court, Sophie Cowles |
|
|
|
Arden Partners (Joint Broker) |
|
Chris Hardie, Director Corporate Finance | Tel: +44 (0) 20 7614 5929 |
Ed Walsh, Head of Sales | Tel: +44 (0) 20 7614 5964 |
|
|
Charles Stanley Securities (Joint Broker) | Tel: +44 (0) 20 7149 6000 |
Russell Cook, Director Corporate Finance |
|
Paul Brotherhood, Sales Trading |
|
|
|
Altium, NOMAD and Financial Advisors |
|
Phil Adams, Simon Lord, Paul Lines | Tel: +44 (0) 845 505 4343 |
Related Shares:
RHL.L