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31 Mar 2021 07:01
31 March 2021
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018
NMCN PLC
("nmcn" or "the Company" or "the Group")
Financing Update
Further to the announcements of 23 and 26 February 2021 the Company, working alongside its debt advisers Arrowpoint Advisory LLP ("Arrowpoint"), is in advanced discussions with a party with a view to concluding a finance package secured against the Company's property development projects. The Board continue to work with Arrowpoint to determine a longer-term financing structure.
The Group is also proactively engaged with Lloyds Bank plc ("Lloyds"), the Company's bank, regarding its existing overdraft facility.
A further update will be made in due course.
Enquiries:
nmcn Plc - 01623 515008
Ian Elliott, Acting Chairman
Robert Moyle, Acting Chief Executive
Alan Foster, Chief Financial Officer
About nmcn
nmcn Plc (TIDM: NMCN) is a leading engineering and construction company in the UK. Its talented 1,700-strong team offers multi-sector engineering and construction skills, technical innovation, design, and specialist fabrication.
The Company delivers major built environment and water industry projects across the UK - from buildings and highways to large-scale water networks and treatment plants. With its history dating back to 1946, nmcn now has 12 UK offices and three off-site manufacturing facilities.
LEI Number: 213800ANYQVA5OS51A68
www.nmcn.com
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