9 Dec 2019 13:02
9 December 2019
LAMPRELL PLC("Lamprell" and with its subsidiaries the "Group")
DEBT FACILITY EXTENSION
Lamprell announces that it has today agreed an extension to its current debt facility of USD 30 million until 14 April 2020.
Discussions with a syndicate of international banks in respect of a new banking facility are ongoing and we will provide an update as soon as appropriate.
Lamprell will provide a trading update on its performance on 16th January 2020.
- Ends -
Enquiries:
| ||||||||||||||||
| ||||||||||||||||
Notes to editors
Lamprell PLC, based in the United Arab Emirates ("UAE") and with over 40 years' experience, is a leading provider of fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries. The Group has established leading market positions in the fabrication of shallow-water drilling jackup rigs, liftboats, land rigs, and rig refurbishment projects, and it also has an international reputation for building complex offshore and onshore process modules and fixed platforms.
Lamprell employs around 4,000 people across multiple facilities, with its primary facilities located in Hamriyah, Sharjah and Jebel Ali, all of which are in the UAE. In addition, the Group has facilities in Saudi Arabia (through a joint venture agreement). Combined, the Group's facilities cover approximately 828,000 m2 with 1.6 km of quayside.
Lamprell is listed on the London Stock Exchange (symbol "LAM").