22 Apr 2015 16:00
AdEPT Telecom Plc
("AdEPT" or the "Company")
New £15m Banking Facility
· New £15 million 5 year debt facility
· Longer term facility
· Facility structure increases flexibility
· Improved terms over previous facility
· Supports acquisition growth strategy
AdEPT Telecom, one of the UK's leading independent providers of voice and data telecommunications solutions, today announcesthat it has signed a 5 year £15 million revolving credit facility agreement with Barclays Bank Plc ("Barclays").
This longer term facility replaces the previous £5 million revolving credit facility which had an 18 month term remaining. The flexible structure of the new agreement and the terms represent an improvement to those in place under the Company's previous debt facility agreement.
The new increased debt facility will be used by the Company to fund the strategic acquisition of businesses within the fragmented fixed line telecom market.
Roger Wilson, Chairman of AdEPT Telecom plc, said:"The new bank facility will enable the Company to continue with its strategy of consolidation of the fragmented fixed line telecom market in the UK. We continue to identify earnings enhancing acquisition opportunities, and the increased scale and structure of this new debt facility will provide greater flexibility and support for future growth."
For more information please contact:
AdEPT Telecom Plc Roger Wilson, Chairman Ian Fishwick, Chief Executive John Swaite, Finance Director
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07786 111 535 01892 550 225 01892 550 243
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Northland Capital Partners Limited
Nominated Adviser Edward Hutton / Gerry Beaney
Broking John Howes / Abigail Wayne
| 020 7382 1100 |
About AdEPT Telecom plc:
AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, broadband, mobile, VoIP and data connectivity products.
AdEPT currently holds 4 Government Telecom Framework agreements: ESPO (local government), Crown Commercial Service RM1035 (central government), G-Cloud 6 and JANET (universities and colleges).
AdEPT's tailored services are used by thousands of businesses customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT Openreach, Vodafone, Virgin Media and TalkTalk Business.
AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT.L). For further information please visit: www.adept-telecom.co.uk