Less Ads, More Data, More Tools Register for FREE

Pin to quick picksScience Sprt Regulatory News (SIS)

  • This share is currently suspended. It was suspended at a price of 33.50
  • There is currently no data for SIS

New Debt Financing Facility

21 May 2020 07:00

RNS Number : 5479N
Science in Sport PLC
21 May 2020
 

 

21 May 2020

 

 

 

SCIENCE IN SPORT PLC

("Company" or "Group")

New Debt Financing Facility

 

Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community, announces that it has secured a new £8 million invoice financing facility from the Company's lending bank, HSBC, for an initial one year term.

 

The Company announced it was exploring this facility at the time of the recent equity placing on 23 April 2020, in which the Group raised gross proceeds of approximately £4.5 million. The debt facility is expected to remain undrawn in the short term and further strengthens the Company's liquidity position.

 

Stephen Moon, Science in Sport's Chief Executive Officer, commented:

"This undrawn £8 million debt facility complements our recent equity fundraising by providing further headroom in our liquidity position should it be required during any future disruption caused by COVID-19. It also gives us additional balance sheet flexibility as we continue to deliver our high-growth strategy. The size of the facility at £8 million underlines the strength of our relationship with HSBC and the bank's confidence in the quality of our business."

 

 

For further information:

 

Science in Sport plc

Stephen Moon, Chief Executive Officer

James Simpson, Chief Financial Officer

+44 (0) 20 7400 3700

LiberumNominated adviser and broker

Bidhi BhomaJames GreenwoodWill Hall

+44 (0) 20 3100 2000

Buchanan CommunicationsFinancial PR

Mark CourtVicky HaynsTilly Abraham

+44 (0) 20 7466 5000

ScienceInSport@buchanan.uk.com

 

 

Notes to Editors

 

About Science in Sport plc

 

Science in Sport plc is a leading sports nutrition business that develops, manufactures and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the gym lifestyle community. The Company has two highly regarded brands: PhD Nutrition, a premium protein brand targeting gym lifestyle and sports enthusiasts, and SiS, a leading brand among elite athletes and professional sports teams.

The two brands are sold internationally through multiple retail channels, both traditional and online, including major supermarkets and high street chains, specialist sports retailers and e-commerce sites including Amazon and the brands' own websites. They enable the Company to address the full breadth of the performance nutrition market currently estimated at approximately £10 billion worldwide.

PhD is one of the UK's leading protein brands with a reputation for high quality and product innovation. The brand has grown rapidly, based on its core protein powders, since launch in 2005. The range now comprises powders, bars, flapjacks, drinks and other products including the high protein, low sugar range, PhD Smart. PhD is the exclusive sports nutrition supplier to David Lloyd Clubs and its brand ambassadors include rapper Bugzy Malone, WBA international champion Jordan Gill and Team GB Olympic sprinter Asha Philip.

SiS, founded in 1992, has a core range comprising gels, powders and bars focused on energy, hydration and endurance. SiS is the official sports nutrition supplier to many professional cycling teams and organisations including Team INEOS, British Cycling, Cycling Australia, USA Cycling and USA Triathlon. SiS supplies more than 80 professional football clubs in the UK and is an official partner to British Triathlon and the Rock 'n' Roll Marathon Series. SiS brand ambassadors include Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE.

Science in Sport is headquartered in London. Its shares joined the AIM market of the London Stock Exchange in August 2013 and trade under the ticker symbol SIS.

For further information, please visit www.scienceinsport.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCMZGZKRGRGGZM
Date   Source Headline
11th Nov 201512:15 pmRNSResults of Firm Placing and Open Offer
23rd Oct 20157:00 amRNSFirm Placing and Open Offer
24th Sep 20157:00 amRNSHalf Yearly Report
27th Aug 20157:01 amRNSDirectorate Change
21st Jul 20157:00 amRNSHalf Year Trading Update
14th Jul 20157:00 amRNSNotification of Major Interest in Shares
25th Jun 20153:15 pmRNSResult of AGM
18th Jun 20157:00 amRNSAppointment of Non-Executive Director
10th Jun 20152:15 pmRNSIssue of equity
16th Apr 20157:00 amRNSAnnual Report and Notice of AGM
13th Apr 20153:30 pmRNSNotification of Major Interest in Shares
26th Mar 20159:40 amRNSGrant of Options
26th Mar 20157:00 amRNSPreliminary Results
25th Feb 20157:02 amRNSNotification of Preliminary Results
12th Jan 20157:00 amRNSLaunches Whey Protein Range
23rd Dec 20143:56 pmRNSNotification of Major Interest in Shares
11th Dec 20147:00 amRNSInterim Results
21st Nov 20143:11 pmRNSNotification of Major Interest in Shares
5th Nov 20147:00 amRNSNotification of Interim Results
13th Oct 20147:00 amRNSNotification of Major Interest in Shares
9th Oct 20142:45 pmRNSNotification of Major Interest in Shares
1st Oct 20141:15 pmRNSDirector's Dealing
30th Sep 201411:00 amRNSResult of AGM
30th Sep 20147:00 amRNSAGM Statement and Half Year Trading Update
19th Aug 20145:01 pmRNSNotification of Major Interest in Shares
11th Aug 20142:50 pmRNSIssue of Equity
22nd Jul 20147:00 amRNSGrant of Options
4th Jul 20147:00 amRNSAnnual Report and Notice of AGM
1st Jul 20147:00 amRNSTotal Voting Rights
26th Jun 20147:00 amRNSPreliminary Results
26th Jun 20147:00 amRNSAppointment of Finance Director
17th Jun 20144:22 pmRNSNotification of Major Interest in Shares
14th May 20147:00 amRNSLaunches Mobile Website
8th May 20147:00 amRNSNotification of Preliminary Results
28th Apr 20147:00 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
17th Apr 20143:07 pmRNSNotification of Major Interest in Shares
17th Apr 20147:00 amRNSNotification of Major Interest in Shares
9th Apr 20147:00 amRNSFull Year Trading Update and Placing
3rd Mar 20147:00 amRNSOpens Head Office in London
26th Feb 20144:30 pmRNSNotification of Major Interest in Shares
17th Dec 20137:00 amRNSSigns Distribution Agreement with Shimano
4th Dec 20137:00 amRNSInterim Results
28th Nov 20137:00 amRNSSigns Asia Pacific Distribution Agreement
18th Nov 20133:09 pmRNSNotification of Major Interest in Shares
11th Nov 20132:21 pmRNSNotification of Major Interest in Shares
30th Oct 20137:00 amRNSNotification of Half Year Results
30th Sep 20137:00 amRNSHalf Year Trading Update
26th Sep 20137:00 amRNSAppoints Mark Cavendish as Elite Sports Consultant
30th Aug 201311:22 amRNSNotification of Major Interest in Shares
23rd Aug 20133:07 pmRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.