Increased banking facilities

10 July 2017

Premier Technical Services Group plc

("PTSG" or the "Group")

Increased banking facilities agreed with HSBC PLC ("HSBC")

£12,000,000 Revolving Credit Facility ("RCF") and £8,000,000 overdraft facility

PTSG, the niche specialist services provider, is pleased to announce that it has extended its banking facilities with HSBC.

The RCF has been increased from £10.0m to £12.0m with the expiry date remaining unchanged at September 2020. The overdraft facility has also been increased, from £4.0m to £8.0m.

Both new facilities are provided at the same interest rate and covenant tests as under the previous facility. Drawn amounts under the RCF attract a variable margin over LIBOR, based on the Group's Net Debt/EBITDA ratio. Undrawn amounts attract a commitment fee.

John Foley, Chairman of PTSG, said:

"The acquisition of Brooke Edgley (Industrial Chimneys) Ltd ("BEST") which was announced on 4 July 2017 involved an initial cash consideration of £14 million which was entirely financed from the proceeds of a £15 million placing of new ordinary shares to investors. However, this acquisition substantially increases the scale of the Group and so we are pleased to announce increased facilities with HSBC who have been the Group's bankers since our formation in 2007. These facilities provide us with sufficient levels of headroom to continue to grow both organically and through carefully selected acquisitions." 

For further information, please contact:

About PTSG - www.ptsg.co.uk 

Premier Technical Services Group PLC is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions.

Operating through four divisions, Access & Safety, Electrical Services, High Level Cleaning and Training Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.

PTSG provides a central information service for its businesses and champions the dissemination of key information and best practice. PTSG unites its constituent businesses under one clear identity, which supports smarter working and delivers top class service to its customers.

Headquartered in Castleford, West Yorkshire, the Group employs more than 600 people across 17 UK sites, who service more than 150,000 buildings across the whole of the UK for over 17,000 customers in a wide range of industries. The Company is listed on the LSE AIM (PTSG.L)