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Last checked at 
20 Feb 2019 07:00
20 February 2019
Science Group plc
("Science Group" or "Group" or "Company")
Extended Bank Facilities
As outlined in the announcement dated 24 January 2019 related to the corporate strategic review, the Group has now finalised the extension of the bank loan, increasing the debt from £12.75 million at 31 December 2018 to £17.5 million.
The repayment date of the additional £4.75 million is the same as the current loan, September 2026. An additional interest rate swap has been taken to fix the effective interest rate of the incremental debt at 4.0%. This is 0.5% above the rate fixed via similar swap instruments in 2016 which remain in place at an effective rate for the £12.75 million of 3.5%.
The other terms and conditions of the incremental loan are the same as the original facility as set out in the announcement on 16 September 2016.
For further information:
Science Group plc Martyn Ratcliffe, Chairman
| Tel: +44 (0) 1223 875200 |
Panmure Gordon (UK) Limited |
|
Dominic Morley/Alina Vaskina (Corporate Finance) Erik Anderson (Corporate Broking) | Tel: +44 (0) 20 7886 2500 |
The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 596/2014.
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