EAS.L Share News (EAS)

LONDON (Alliance News) - Energy Assets Group PLC on Tuesday said it has secured a new GBP5 million revolving credit facility with Santander UK PLC to provide funding for the further expansion of its business.

The gas metering company said it will be able to make drawdowns from the new facility over a three-year period.

Energy Assets said the new facility brings its total financing package presently in place to GBP44 million.

"I am delighted to welcome Santander as a new funding partner. By securing this new facility we are now in an even stronger position to implement our strategy of growing the business organically and making further acquisitions to maximise shareholder value as suitable opportunities arise," said Energy Assets Chief Executive Phil Bellamy-Lee.

Energy Assets shares were up 1.35 to 496.4 pence on Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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