Last checked at 13 Mar 2023 07:00
13 March 2023
Moonpig Group plc
Statement regarding SVB UK
Moonpig Group plc (the "Group") notes the recent developments relating to Silicon Valley Bank UK Limited ("SVB UK") and confirms it has no material exposure to SVB UK.
The Group has no cash on deposit with SVB UK and does not hold a bank account with them. SVB UK is one of ten lenders that provide senior debt facilities to the Group as part of a strong banking syndicate. The Group has significant liquidity headroom. Utilised and available facilities together total £242 million, which are committed until 8 December 2025. This excludes the £13 million undrawn portion of SVB UK's commitment.
Enquiries
Moonpig Group investors@moonpig.com, pressoffice@moonpig.com
Nickyl Raithatha, Chief Executive Officer
Andy MacKinnon, Chief Financial Officer
J.P. Morgan Cazenove (Corporate Broker to Moonpig Group) +44 207 742 4000
Harry Hampson, Alex Watkins, Mose Adigun
About Moonpig
Moonpig Group plc (the "Group") is a leading online greeting cards and gifting platform, comprising the Moonpig, Red Letter Days and Buyagift brands in the UK and the Greetz brand in the Netherlands. The Group is the online market leader in cards in both of its markets and is also the UK market leader in gift experiences.
The Group's leading customer proposition includes an extensive range of cards, a curated range of gifts, personalisation features and next day delivery offering.
The Group offers its products through its proprietary technology platforms and apps, which utilise unique data science capabilities designed by the Group to optimise and personalise the customer experience and provide scalability. Learn more at https://www.moonpig.group/.