The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information will be in the public domain.
Braime Group PLC
("Braime" or the "Company" and together with its subsidiaries the "Group")
New Loan Agreement
Further to the announcement of 17 January 2025, the Company confirms that it has now executed a new loan agreement with HSBC (the Company's bankers) for a £2 million development loan to finance the Oil Can Roof replacement at the Group's headquarters at Hunslet Road, Leeds ("Oil Can Roof Project)". The loan (which will be included in the existing HSBC charge over the Company's property) incurs an interest rate of 2.5% above the Bank of England base rate and is for a period of the earlier of (i) 18months or (ii) the completion of the Oil Can Roof Project (the "New Loan").
The Company currently intends to convert the New Loan to a five-year term loan on completion of the Oil Can Roof Project, on terms yet to be agreed (although it is intended that it will be on similar terms as the New Loan).
Further announcements will be made in due course as appropriate.
For further information please contact:
Nicholas Braime - Chairman
Cielo Cartwright - Chief Financial Officer
0113 245 7491
Zeus Capital Limited
Katy Mitchell
0113 394 6628
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