6th Nov 2007 07:00
Northern Bear Plc06 November 2007 Northern Bear Plc ('Northern Bear' or the 'Company') New Bank Facilities The board of the Company ('Board') is pleased to announce that Northern Bear, the integrated North East based building services and materials supplier, has entered into new banking arrangements with Yorkshire Bank which comprise available facilities totalling £11 million, which are being provided on more favourable terms than those previously available to the Company. Since its admission to AIM on 19 December 2006, Northern Bear has completed the acquisitions of MGM Limited, Chirmarn Holdings Limited and Hastie Limited and theBoard remains encouraged by the increasing number of opportunities for potential acquisitions being presented to it. The balance of the proceeds of the placing announced in August 2007, together withthe additional flexibility provided by the bank facilities, enables the Company tofurther progress its planned corporate strategy (being the acquisition of mature,North East based owner-managed businesses in the buildings services and materialssector which demonstrate consistent profitability and positive operating cash flow). End Northern Bear PlcGraham Forrest, Chief Executive0191 371 2934 Strand Partners LimitedJames Harris / Braden Saunders020 7409 3494 St Helen's Capital PlcRuari McGirr020 7628 5582 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Northern Bear