If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksH&t Group Plc Regulatory News (HAT)

Share Price Information for H&t Group Plc (HAT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 424.00
Bid: 420.00
Ask: 430.00
Change: -6.00 (-1.40%)
Spread: 10.00 (2.381%)
Open: 428.00
High: 428.00
Low: 421.00
Prev. Close: 430.00
HAT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Announcement of Additional Financing

17 Nov 2023 07:00

RNS Number : 7573T
H&T Group PLC
17 November 2023
 

17th November 2023

 

H&T Group plc

 

("H&T," the "Company" or the "Group")

Announcement of Additional Financing

H&T Group Plc ("H&T" or "The Group"), the UK's largest pawnbroker and a leading retailer of new and pre-owned jewellery and watches is pleased to announce that it has received additional support to fund the growth of the business from Allica Bank Limited in the form of a funding facility of £10m. The additional funding will support the growth in the pledge book and investment in the store portfolio.

The facility comprises a term loan with a maturity which coincides with, and which has the option to extend maturity in line with, the Group's existing funding facilities provided by Lloyds Bank Plc.

Interest will be charged at a rate of 4% above Base Rate. Covenants are aligned with those of the existing funding facilities with Lloyds Bank plc, with the addition of a new covenant requiring asset cover (pledge book plus inventory) of no less than 3x net debt.

Allica Bank Limited is a specialist bank providing lending, savings and current accounts to established SME businesses, delivered through a combination of proprietary technology and human relationships.

Diane Giddy, Chief Financial Officer of H&T, said:

"We are very pleased to have the support of Allica Bank as an additional funding partner. We have continued to see good growth in the pledge book in the second half of the financial year, with sustained demand for our products and services, and the investment we are making in our store estate is expected to underpin future growth. The new facility, alongside our existing long-standing support from Lloyds, will enable us to grow our pledge book further in FY24."

 

Enquiries

H&T Group plc

Chris Gillespie, Chief Executive Officer

+44(0)20 8225 2700

Diane Giddy, Chief Financial Officer

 

Shore Capital Ltd (Nominated Advisor and Broker)

 

+44(0)20 7408 4090

Stephane Auton/Iain Sexton (Corporate Advisory)

Guy Wiehahn/Isobel Jones (Corporate Broking)

 

Alma (Public Relations)

 

+44(0)20 3405 0205

Sam Modlin

handt@almastrategic.com

Andy Bryant

Rebecca Sanders-Hewett

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCEAEFKFEADFAA
Date   Source Headline
12th Jan 20079:25 amRNSHolding(s) in Company
9th Jan 20077:00 amRNSPre Close Trading Statement
21st Dec 20064:35 pmRNSHolding(s) in Company
18th Dec 20063:02 pmRNSHolding(s) in Company
15th Dec 20069:17 amRNSVoting Rights and Capital
10th Oct 20063:42 pmRNSAcquisition of stores
12th Sep 20068:38 amRNSGrant of Options
31st Aug 20067:00 amRNSInterim Results
23rd Aug 200612:41 pmRNSIntention to release results
22nd May 200610:39 amRNSHolding(s) in Company
11th May 20063:08 pmRNSHolding(s) in Company
9th May 200612:36 pmRNSHolding(s) in Company
8th May 20067:02 amRNSAIM Listing
8th May 20067:02 amRNSAdmission to AIM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.