LWRF.L Regulatory News (LWRF)

 25 May 2016

LightwaveRF Plc

(AIM: LWRF)

Working Capital Facility

LightwaveRF ("The Company") is the Internet of Things ("IOT") provider of the LightwaveRF platform and connected devices, enabling domestic and commercial users to remotely monitor and control light, heat, power and security by smartphone, tablet or PC. The Company announces that it has secured a new £1.1m working capital facility with Santander to help expand its UK and international distribution footprint.

As previously announced, the Company is broadening its distribution, both in the UK and overseas and this requires additional working capital. The facilities include both discreet invoice financing and trade financing to support an anticipated increase in sales volume.

All of the Company's banking facilities will move to Santander.

Commenting Kevin Edwards, LightwaveRF CFO, said: "The granting of this working capital facility by Santander demonstrates the credibility of our business plans with an international bank and will assist us in meeting our working capital requirements for our growth plans."

Louise Guise, Relationship Director at Santander Corporate & Commercial, added: "We have been impressed with both LightwaveRF's management team and also their product range and customer pipeline. We look forward to growing our partnership with the business in this exciting market sector."

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