14 April 2022
Pebble Beach Systems Group plc
("Pebble" or the "Group")
New Banking Facility & Notice of Full Year Results
New Term Loan Banking Facility
Pebble has a good relationship and communication with its bank Santander and is pleased to announce that it has secured a new term loan facility, refinancing the current revolving credit facility. The new £7.15 million term loan facility extends to 30 September 2024 with revised banking covenants and a repayment schedule consistent with previous years allowing us to make ongoing investment in new technology solutions.
Pebble has systematically reduced its bank debt from £11.5 million at 31 December 2017 to £7.55 million at the end of 2021 and to £7.15 million as of today. The reduction in bank debt has been made from operating cash flows at a rate of c.£1m per annum.
Notice of Full Year Results
Pebble expects to announce its full year results for the year ended 31 December 2021, on Thursday 5 May 2022 and for the results to be consistent with the trading update released on 25 January 2022.
For further information please contact:
| Peter Mayhead - CEO David Dewhurst - CFO | +44 (0) 75 55 59 36 02
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finnCap Ltd (Nominated Adviser and Broker) Graham Cooke / Krishan Raval - Debt Advisory Marc Milmo / Teddy Whiley - Corporate Finance Tim Redfern / Sunila de Silva - ECM
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+44 (0) 207 220 0500 |
The Company is listed on the LSE AIM market (PEB.L). More information can be found at www.pebbleplc.com.
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