Sign In
26 May 2020 07:00
26 May 2020
finnCap Group plc
("finnCap" or the "Group")
Property Financing
Further to its announcement of 17 January 2020, the Group has now finalised the financing for the fit out of its new offices in 1 Bartholomew Close. On 22 May 2020 Cavendish Corporate Finance Limited ("Cavendish Corporate Finance") entered into a loan agreement with National Westminster Bank plc ("Natwest") for an amount of £1.8m, with a fixed interest rate of 3.65% repayable in equal monthly instalments over 5 years. The Group and its subsidiaries have given a charge over their assets and issued cross guarantees as security for the loan which is also subject to covenants related to the trading performance of Cavendish Corporate Finance.
The current financial year has started well in both of the Group's divisions and, although a number of M&A deals have been delayed, we are encouraged by the remaining pipeline of transactions for the first quarter. The Group will provide a further trading update with the announcement of its results for the year ended 31 March 2020.
Contacts
finnCap Group plc Tel: +44 (0) 20 7220 0500
Sam Smith, Chief Executive Officer investor.relations@finncap.com
Richard Snow, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Seamus Fricker
finnCap Ltd (Broker) Tel: +44 (0) 20 7220 0500
Rhys Williams
Tim Redfern
Follow the stocks
