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Pin to quick picksVan Elle Share News (VANL)

Share Price Information for Van Elle (VANL)

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Share Price: 47.00
Bid: 46.00
Ask: 48.00
Change: 0.00 (0.00%)
Spread: 2.00 (4.35%)
Open: 46.50
High: 47.00
Low: 44.60
Yest. Close: 47.00
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IN BRIEF: Van Elle Refinance Debt With GBP11 Million Of Facilities

Fri, 2nd Oct 2020 14:30

Van Elle Holdings PLC - Nottinghamshire-based ground engineering contractor - Refinances existing debt facilities through agreement with ABN AMRO Commercial Finance. Agreement is for up to GBP11 million of asset-backed lending facilities, provided on a revolving basis over four years and secured by an all assets debenture. No financial covenants associated with facilities. Facilities, to be undrawn on completion, will provide additional balance sheet strength, giving Van Elle "greater flexibility for future capital expenditure requirements". September end cash position around GBP11.5 million with remaining debt under hire purchase agreements of GBP5.7 million. With approximately GBP5.8 million of net funds, Van Elle says it is "well-positioned to face any short-term market challenges". Existing GBP2.5 million overdraft facility with Lloyds Banking Group terminated as part of refinancing.

Current stock price: 34.00 pence

Year-to-date change: down 34%

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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